Sep 3, 2024 | FinTech, News
Interest Rate Cuts Could Increase BNPL Usage, CEO Says Last month, one of the leading buy now, pay later (BNPL) providers, Affirm, reported in its fourth quarter fiscal 2024 results that it saw 31 percent year-over-year growth in gross merchandise volume (GMV),...
Aug 20, 2024 | FinTech, News
Fintechs Increase Lobbying Spending on EWA, AI, and Crypto Major fintech firms increased lobbying spending during the first half of the year compared to their previous spending in the same time frame of 2023, notably on AI, cryptocurrency, and earned wage access...
Aug 8, 2024 | Federal Regulation, FinTech, News
Comment Period on CFPB BNPL Rule Closes, Leaving Future Unclear The comment period has officially ended for the Consumer Financial Protection Bureau (CFPB)’s interpretive rule on buy now, pay later (BNPL) products, with multiple companies and organizations weighing in...
Aug 6, 2024 | Federal Regulation, FinTech, News
Regulators Seeking More Details on Bank-Fintech Relationships Federal regulators have recently sought comments on the relationships between financial institutions and the third parties—especially fintechs—that often partner with them. Agencies seeking better...
Jul 25, 2024 | Congressional Legislation, FinTech, News
House Financial Services Committee Holds Field Hearing on Partnerships Between Financial Institutions and Fintech Earlier this month, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy held a field hearing in Kentucky for banking...
Jul 23, 2024 | Federal Regulation, FinTech, News
CFPB Says Earned Wage Access Apps are Providing Loans Last week, the Consumer Financial Protection Bureau (CFPB) said that apps that allow workers to access their paychecks early—and usually for a fee—are actually providing loans, thus making them subject to the Truth...
