Author: Action Institute
Date: 29 April 2019
Banks seek Congress’ help to block fintech path to ‘industrial’ charters (Roll Call, 3/20/19) The Independent Community Bankers of America are seeking to block FinTechs from receiving FDIC insurance if they obtain Industrial Loan Charters. [Banks and digital challenges]
More regional banks may merge to meet tech challenges (American Banker, 3/19/19) A big reason for regional and community banks to join forces has been to develop technology that will help them compete in today’s digital banking world. [Banks and digital challenges]
Investors should encourage a resurgence of local community banking (CNBC, 3/16/19) Community banks are the lenders of choice for small businesses and their shrinking numbers create opportunities for investors to start new ones.
LendingClub Eyes National Bank Status (Politico, 3/18/19) LendingClub is considering filing an application with the OCC to become a national bank.
Why are FinTech’s getting a regulatory pass? (American Banker, 3/12/19) FinTechs should be subject to the same level of regulatory scrutiny as other lending institutions, especially as they become a larger part of the market. [Fintech]
Can Citi and Chase beat FinTech’s at their own game? (American Banker, 3/8/19) Banks like Chase and Citi are now hitting back at FinTechs with their own personal loan offerings. [Banks and digital challenges]
Apple, Goldman Sachs Team Up on Credit Card Paired With iPhone (WSJ, 2/21/19) Apple will also develop tools in its Wallet app that will help borrowers track their financial health. [Banks and digital challenges]
FinTechs Continue to Drive Personal Loan Growth (SeekingAlpha, 2/21/19) TransUnion’s Industry Insights report shows that personal loan balances grew by $21 Bn to $138 Bn in Q4 driven by FinTech issuers. [Lending]
It’s a platform planet. Can banks adapt to it? (American Banker, 1/31/19) Banks have also been diversifying by developing technology-enabled platforms that allow companies to offer white-labeled banking products. [Banks and digital challenges]
Fed should open the payments system to fintechs (American Banker, 1/24/19) An op-ed argues that the Fed should allow FinTechs access to the payments system and require regulatory oversight in order to receive such access. [Fintech]
Millions of bank loan and mortgage documents have leaked online (TechCrunch.com, 1/23/19) About 24 Mn mortgage-related documents have leaked online from Ascension, a data analytics company. [Banks and digital challenges]
Fintech firms want to shake up banking, and that worries the Fed (Reuters, 1/14/19) The Fed is wary of allowing FinTech firms into the payments system as officials fear that these firms lack robust risk-management controls and consumer protections that banks have in place. [Fintech]
Fintechs may finally win charter chase in 2019 (American Banker, 1/9/19) There is a multi-pronged effort to provide a national regulatory swim lane to FinTech firms or a viable multi-state licensing alternative. [Fintech]
Fintech funding reaches new high (American Banker, 1/9/19) Venture capital investments in FinTech companies in 2018 rose by 39% YoY to $11 Bn. [Fintech]
Lending Startup Affirm to Test High-Interest Savings Accounts (Cheddar, 1/9/19) Affirm is the latest FinTech lender to offer deposit services, advancing towards its mission of re-inventing banking. [Lending]
Why banks shouldn’t make online banking too easy (American Banker, 12/27/18) A paper published at Georgia Tech argues that friction in lending allows borrowers to make smarter decisions. [Lending]
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
Good health is essential to social and economical development and it empowers all of the public sectors.
World Health Organization
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.