Another busy news week in fintech with Apple causing quite a stir on the BNPL front. We also had big news from PayPal, the U.S. Senate, Custodia Bank, Checkout.com and more. Here are what I consider to be the top ten fintech news stories of the past week.
CFPB ends no-action letter with fintech lender Upstart Network from American Banker – When Upstart received the No-Action Letter from the CFPB back in 2017 it was a big deal (we wrote about it here). Now, both the lender and the CFPB have agreed to terminate the letter. Upstart wanted to update their models with new variables and the current CFPB leadership never really liked the NAL program.
The Fintech 50 2022 from Forbes – Forbes is out with their annual Fintech 50 list celebrating the most innovative fintech startups. Many of the big names you would expect are on there: Brex, Chime, Circle, DriveWealth, OpenSea, Plaid, Stripe, and Upgrade. But there were a few surprises with the younger companies: Ava Labs, Column, Creative Juice, Divvy Homes, Esusu, Grow Credit, and Stronghold.
Every Thursday afternoon, the LendIt Fintech News team and a special guest discuss the news of the week live on LendIt TV, YouTube, LinkedIn, and Twitter. We have now made the show available in podcast format – click on the audio player below.
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.