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.
The new FinTech bank from Chris Skinner’s Blog – The main difference between traditional banks and new fintech banks is the level of integration of the finance and technology operations. In traditional banks these groups remain siloed.
CFPB to scrap key underwriting portion of payday rule from American Banker – Good news for the payday lending industry but bad news for consumers as the CFPB plans to scrap a key provision in a new rule that required lenders to take into account a borrower’s ability to repay.
Fed not an impediment to fintechs’ charter ambitions: OCC’s Otting from American Banker – More clarity on the OCC fintech charter after comments from Comptroller Otting this week. Potential applicants see no need to process payments directly with the Fed. He also made comments on CRA reform and the “states issue” with the charter.
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.