An interagency panel, the Property Appraisal and Valuation Equity task force, released a plan for addressing discrimination in the appraisal industry. The group first convened last summer.
Read MoreOn Wednesday, the Consumer Finance Protection Bureau (CFPB) announced that discrimination associated with any financial product is illegal. The Bureau has primarily concerned itself with discrimination in credit.
Read MoreThe trading platform’s new offering would let users generate passive income by loaning out their stocks to other financial institutions. It’s set to roll out in the first half of 2022, according to a Robinhood spokesperson.
Read MoreAgrotoken, an Argentinian startup tokenizing grain by the ton through cryptocurrency, announced that its soy-, corn- and wheat-backed coins will be accepted as collateral by Santander. Agrotoken has also launched a 1,000-farmer test with Santander.
Read MoreThe personal finance giant announced today that it’s acquiring banking-software maker Technisys SA through an all-stock deal worth $1.1B. SoFi’s stock has slid more than 30% since the beginning of the year.
Read MoreFinancial regulators told banks that they must prove that the use of AI in loan applications does not discriminate against minorities. The move follows growing concerns over systeming racism in banking.
Read MoreOn Saturday, Vancouver-based TerraZero completed a “metabase mortgage” transaction with a client buying virtual real estate. The “land” purchased was in Ethereum-based metaverse Decentraland.
Read MoreThrough Spring Labs’ ky0x Digital Passport, U.S. credit reporting firm TransUnion will let customers share their credit history with companies operating on the blockchain.
Read MoreFacebook is buying up $100M of unpaid invoices from small businesses who will, in turn, pay back Facebook under terms the company says are affordable.
Read MoreLendUp, an online lender aimed at credit-challenged customers, is reportedly shutting down after 9 years.
Read MoreOn the heels of the Supreme Court decision to uphold the Affordable Care Act, point-of-sale (POS) lenders see opportunities to meet the credit needs of consumers struggling to meet out-of-pocket costs.
Read MoreIn a major shift in underwriting practices, major banks are working together on a pilot program to share consumer account data in an effort to extend credit to thin-credit-file customers.
Read MoreThe Senate passed a resolution to repeal the True Lender Rule, a rule that sets parameters for partnerships between banks and third-party lenders.
Read MoreSallie Mae, which provides credit-based private student loan products to international and DACA students who apply with an eligible U.S. citizen or permanent resident co-signer, is working with fintech MPOWER Financing to deliver loans to “high promise” international students across 350 universities and colleges in cases where a co-signer is not available.
Read MorePowerPay, a King of Prussia, Pennsylvania-based home improvement financing fintech has hit a $1B milestone in loans originated on its platform as it eyes additional products and services, including insurance and other types of lending products.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
