Senate votes to strike down OCC True Lender Rule
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The Senate passed a resolution to repeal the True Lender Rule, a rule that sets parameters for partnerships between banks and third-party lenders.
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Fintech News Stories
MoneyGram lets customers buy and sell crypto at 12,000 storefronts in the US
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Global money-transfer provider MoneyGram is letting customers buy and sell bitcoin at MoneyGram physical store locations thanks to a partnership with cryptocurrency exchange Coinme.
Read MoreQuestions loom about payroll data provider Argyle’s motives to pay users for login details
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Argyle, a fintech startup that aspires to become the “Plaid for employment records” by offering consumers capabilities to grant permission to access their payroll data, is being scrutinized over its motives to collect payroll data and offering to pay consumers for access to login information.
Read MoreMortgage fintech Better to go public via SPAC merger in $7.7B deal
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Better, a 5-year-old digital mortgage lender, is merging with special-purpose acquisition company Aurora Acquisition Corporation, in a $7.7B deal to take the company public.
Read MoreKlarna launches SMB initiative as it expands US presence
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Klarna, a Sweden-based ‘buy now, pay later’ (BNPL) provider with global reach, is launching a program to help pandemic-affected U.S. businesses, which includes in-kind media services, and free BNPL offerings.
Read MoreUK publication employing homeless vendors taps QR code payments to increase sales
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The Big Issue, a 30-year-old U.K.-based publication that employs homeless street vendors, is incorporating QR code payments to increase sales.
Read MoreIn response to scrutiny from regulators, Chime agrees to stop calling itself a bank
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Chime, one of the largest digital banking startups in the U.S., has agreed to stop conflating its offerings with those offered by banks in its marketing and advertising messages, per a March settlement agreement with California regulators.
Read MorePayPal reports strongest quarter in history, buoyed by crypto buying and selling
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PayPal, in its first quarter 2021 earnings report, said it processed $285B in payments – a 50% bump year-over-year – and added 14.5 million net new active customers.
Read MoreGrayscale Investments enters into cryptocurrency partnership with the New York Giants
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Grayscale investments, the world’s largest cryptocurrency asset manager, entered into the first-ever cryptocurrency partnership with an NFL Team with a new agreement with the New York Giants.
Read MoreBill.com could soon announce acquisition of expense-reporting startup Divvy
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Bill.com, which reports earnings this week, is reportedly on the cusp of acquiring expense-management startup Divvy, which was recently valued at $1.6B.
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Marqeta could be planning a June IPO
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Card issuing and processing startup Marqeta is reportedly on pace to move forward with a June IPO, making the paperwork public in May.
Read MoreNew acting comptroller of the currency could lay groundwork for thorny policy issues
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Treasury Secretary Janet Yellen is reportedly about to appoint a former senior Federal Reserve official to the post of acting comptroller of the currency.
Read MoreEBay cautiously opens door to crypto, NFT transactions
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E-commerce marketplace eBay, in various media interviews this week, suggested it may accept crypto as a payment method in the future.
Read MoreSoFi allows customers to redeem cash-back rewards in cryptocurrencies
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SoFi, the banking, lending, and investing platform that will soon go public via merger with a special-purpose acquisition company, announced that it’s letting its clients redeem their cash back rewards in bitcoin or ethereum.
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