Banking
Donald Trump’s presidential victory and Republicans’ gains in Congress will undoubtedly have implications for the financial technology industry. Forbes spoke with policy experts and executives to discuss four areas that could see big changes: banking regulation, the Consumer Financial Protection Bureau (CFPB), the partnerships fintechs have with banks to offer…
Los Angeles-based lending startup Sunbit has raised $355 million in new debt financing led by JPMorgan Chase, Tokyo-based bank Mizuho and private credit firm Waterfall Asset Management. Sunbit offers consumer loans ranging from $50 to $20,000 for in-person payments at places like car dealerships (for auto repairs), dentist offices and…
The intersection of financial services and technology, otherwise known as fintech, has increasingly come under federal scrutiny, especially to the extent new firms have attempted to offer traditional banking services without having a banking license. To better understand the impact of today’s presidential and congressional elections on the fintech industry,…
OBSERVATIONS FROM THE FINTECH SNARK TANK In the past few weeks, two contacts of mine announced new jobs on LinkedIn. Nothing unusual about that, right? Except that both of them had announced their retirements in the past two months. As one of them told me, “I failed at retirement.” The…
Banks Are Finally Going to Have to Compete for Your Money It’s about to get harder for banks to hold onto unsatisfied customers, and their money. It has long been a challenge for people to ditch the banks where they keep their checking accounts. But the first so-called open banking…
OBSERVATIONS FROM THE FINTECH SNARK TANK Conclusions from a new Apple study might make consumers rethink using ChatGPT—and other Generative AI tools—to get financial advice. And it should temper the plans of bank and credit union executives to use artificial intelligence (AI) to offer financial advice and guidance to consumers.…
Trump Proposes Credit Card Interest Caps Donald Trump made headlines Wednesday night, promising a crowd in New York he would, if restored to the White House, put a “temporary cap on credit card interest rates … at around 10%,” if he were elected. Doing so would require Congress to pass…
Access to housing in the United States is one of many issues Americans face as they grapple with the current economic environment. Paired with higher interest rates, and increased costs of groceries and basic essentials, homeownership—once the cornerstone of the American Dream—is an increasingly elusive reality. Additionally, with Pew Charitable…
The surge in popularity of digital wallets is a big multi-year story in payments. The convenience of being able to pay for your shopping with your mobile phone —eliminating the need to carry cash and cards — has resulted in a wave of adoption that shows little sign of abating.…
It’s been a dynamic and unsettling year for Unilever — from a major CEO transition and the decision to exit the ice cream business to a significant restructuring. The company, known for its global leadership position on sustainability, also announced that it was evolving its broad sustainability agenda, refocusing its…
