After avoiding section 1033 of Dodd-Frank for 12 years, in October the CFPB announced proposals for action. Plaid now offers their advice.
According to the Wall Street Journal, former Lending Club CEO Renaud Laplanche has started a new online lender called Credify; the company has setup offices in the financial district of San Francisco and was incorporated less than a month after leaving Lending Club; former Lending Club executives Jeff Bogan and Adelina Grozdanova have also joined the new company; it plans to make its first loans in 2017. Source
The pandemic has helped drive a surge in Canadians using digital identity authentication platforms to get access to government programs;...
Marketplace lender, LendingHome, has reached a new milestone; firm has funded over $750 million in mortgage loans since its launch in April 2014; claims to be the largest mortgage marketplace lender; firm attributes the rapid growth to a broader range of investors, now including retail investors, and the secured status of the real estate loans; Matt Humphrey, LendingHome CEO, shares additional thoughts in the included Q&A. Source
The Women in Consumer Finance Conference is an annual event that actively targets the issue of diversity within the financial services sector. By organising three days of personalised engagement activities attendees are delighted at its impact.
A husband and wife from Sri Lanka were arrested in Canada for fraud and money laundering; the couple reportedly used fraudulent checks and synthetic identities for fraudulent charges and purchases; both are charged with fraud of CAD5,000 ($3,729) and possession of proceeds obtained of over CAD5,000 ($3,729); the fraudulent charges are an example of the emergence of sophisticated synthetic identities that are more difficult to be detected by fraud prevention systems. Source
Deloitte is the newest name to come under cyber attack where hackers accessed data on an email platform; the accounting firm said the cyber breach had affected “only very few clients” and that “no disruption had occurred to client businesses"; they notified government authorities of the hack when it occurred and have put a team together to figure out what happened. Source.
Finn.AI provides personal banking and financial management services powered by artificial intelligence; it links with banks to offer customers advice and communicates information through a range of channels including Amazon Alexa, Facebook Messenger and WeChat; Jake Tyler provides details on the company and reports on its advantages through bank partnerships. Source
eOriginal has added Ron Suber, Prosper Marketplace president, to its advisory board; the digital transaction document management company has been steadily expanding its business in the marketplace lending market; Ron Suber will help support the company's growth as an advocate for its unique digital documentation products also advising the company on the marketplace lending market overall; eOriginal is currently growing and expanding, also adding Jon Barlow, founder and former CEO of Eaglewood Capital Management, to its advisory board and raising $26.5 million in a recent funding round. Source
On March 29, the Boston-based anti-fraud firm FiVerity announced a "holistic" fraud analytics platform to help firms stop criminal activity.