Here are what I consider to be the top 10 most important fintech news stories of the past week (in no particular order).
SoFi Applies for a National Bank Charter from Lend Academy – this was not unexpected as SoFi had filed for an ILC back in 2017, before withdrawing it some months later, but this time they are going for the full national bank charter.
Consumer Bureau Scraps Restrictions on Payday Loans from The New York Times – While I am a big fan of increased access to credit it should be done in a responsible way. That is why I was disappointed the CFPB rescinded the proposals to make payday lending more responsible.
New Acting Banking Comptroller Plans Rapid Pace on Fintech Agenda from Morning Consult – New acting head of the OCC, Brian Brooks, is not afraid to be bold. In this interview he discusses his plan for aggressive changes on fintech policy covering a wide spectrum of issues, including some that have been the subject of heated debate.
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.