During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
Banks shouldn’t count on overdraft fees forever from American Banker – I am convinced that fee revenue from overdrafts is going to move towards zero for banks in the coming years. So many fintech platforms are attacking this problem and some are getting serious traction.
Elliott-backed bank Chetwood targets UK customers from Financial Times – In the UK, a new fintech lender called Chetwood Financial received a full banking license in late December. They have an interesting product called a “dynamic loan” where the rate adjusts to become cheaper over time with improved credit rating.
Fintech funding reaches new high from American Banker – The U.S. venture capital industry remains bullish on fintech. Last year saw a record amount of investment, around $11 billion, into fintech startups.
Fintechs may finally win charter chase in 2019 from American Banker – Interesting piece in American Banker on the fintech charter process: “the multi-pronged effort to get fintech firms through the bank regulatory door or provide them with a viable multistate alternative has an air of inevitability to it.”
Fintech Sector Hurt by Shutdown from Rollcall – While the government shutdown continues, the impact on federal workers is painfully evident, it is also starting to create serious problems for fintech firms since the SEC is mostly shutdown.
From the Lend Academy Forum
The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.
Investor fee – A good reminder to investors about the fees they pay to LendingClub.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.