Houston-based fintech offers to help Afghan refugees establish financial lives
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Fintech News Stories
Fintechs embrace hybrid work, but empower employees to make choices
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Fintechs have shifted their work cultures as a result of the pandemic. Some companies are offering hybrid work models, while others are letting employees decide what format suits them best.
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Many users don’t understand ‘buy now, pay later,’ says Barclays
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A recent survey of 2,000 U.K. consumers conducted by Opinium on behalf of Barclays found that more than a third don’t fully understand the consequences of missing ‘buy now, pay later’ (BNPL) repayments, and 52% are unaware that “unregulated BNPL providers” don’t have to carry out “robust affordability checks.”
Read MoreGen Z-focused financial services capture imagination of incumbents and startups
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Gen Z consumers have garnered considerable recent attention as incumbents and newer platforms launch offerings to cater to this market
Read MoreWill Fidelity’s spot bitcoin ETF launch in Canada force the hand of US regulators?
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Fidelity earlier this month launched a spot bitcoin exchange-traded fund (ETF) offering in Canada, a product which differs from bitcoin-linked ETFs currently approved in the U.S., which are bitcoin futures-based ETFs.
Read MoreStash plans to introduce crypto in smart portfolios
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Banking and investing app Stash is reportedly working on introducing crypto into its smart portfolios, but the company did not offer a specific launch date.
Read MoreRegulators will crack down on banks that are overly reliant on overdraft fees
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Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra said the regulator plans to enhance its scrutiny of banks that are “heavily dependent” on overdraft fees, hinting at enforcement actions that could follow.
Read MoreSquare changes corporate name to Block, suggesting new product roadmap
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In a not-so-subtle nod to crypto and blockchain, payments company Square, which is led by Twitter co-founder Jack Dorsey, changed its corporate name to Block this week.
Read MoreBetter.com announces layoffs ahead of public debut
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Better.com, a New York-based digital mortgage lender, is laying off roughly 9% of its 10,000 staff ahead of its public launch.
Read MoreCapital One kills overdraft fees, citing need for consumer ‘safety net’
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Capital One announced that it’s removing overdraft fees, and the $150M in annual revenue that goes along with it. The bank is also getting rid of non-sufficient fund (NSF) fees.
Read MoreMeta’s David Marcus departs firm, adding uncertainty to digital currency plans
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Payments executive David Marcus, a co-creator of Meta’s yet-to-be-launched Diem cryptocurrency, announced he is leaving the company at the end of the year.
Read MoreNubank, the world’s biggest standalone digital bank, cuts IPO valuation
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Nubank, the Berkshire Hathaway-backed digital banking behemoth based in Brazil, cut the targeted price range for its planned IPO by about 18% this week.
Read MoreJack Dorsey’s Twitter departure clears way for Square and bitcoin focus
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Jack Dorsey announced he’s stepping down from his role as CEO of Twitter, but the move may allow for a sharper focus on Square, the payments company where he will remain CEO.
Read MoreICYMI: Klarna piles on losses as ‘buy now, pay later’ demand grows
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Klarna, the $46B Swedish company whose toolset allows retailers to offer ‘buy now, pay later’ (BNPL) capabilities, reported a $344M loss from January to September.
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