Sep 8, 2021 | Banks & Credit Unions, FinTech, News
Credit Unions Exploring Buy Now, Pay Later Installment Products Buy now/pay later (BNPL) installment products have become more popular throughout the COVID pandemic, with credit unions increasingly participating in offering the product. Typical BNPL products allow...
Sep 6, 2021 | Federal Regulation, FinTech, News
Regulators Urge Banks to Assess Risk in Fintech Relationships Recently, the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC) issued new guidance for community banks to better assess risk as they...
Sep 3, 2021 | FinTech, News
Amazon, Affirm Team Up to Offer Buy Now, Pay Later Since the onset of the global pandemic around March of last year, buy now/pay later (BNPL) financing has rapidly become a popular alternative to credit card borrowing. This trend continued last week when Amazon...
Aug 20, 2021 | FinTech, News
Legislation Introduced to Include Fintech Lenders in SBA Loan Program Earlier this month, Senators Tim Scott (R-S.C.) and John Hickenlooper (D-Colo.) introduced legislation—the Expanding Access to Credit for Small Business Act—that would permit fintechs to...
Aug 11, 2021 | Federal Regulation, FinTech, News
Warren Urges Yellen to Crack Down on Cryptocurrency In a recent letter, Senator Elizabeth Warren (D-Mass.) urged Treasury Secretary Janet Yellen to work through the Financial Stability Oversight Council, which she chairs, to develop a regulatory strategy on...
Aug 4, 2021 | Banks & Credit Unions, FinTech, News
Banks, Lenders Moving Away from FICO for Loan Determinations Large banks and lenders are moving away from using FICO credit scores for consumer credit decisions like auto loans and mortgages. FICO has provided scores for nearly 200 million U.S. consumers, but...
