Late last month the U.S. Department of the Treasury’s Office of the Comptroller of the Currency (OCC) issued a bulletin updating risk management procedures for financial institutions working with 3rd parties by adding marketplace lenders. “Marketplace lender” is...
*Source: The Pulse of Fintech, Q3 2016, Global Analysis of Fintech Venture Funding, KPMG International and CB Insights (data provided by CB Insights) November 16th, 2016. A recent quarterly report by international auditing firm KPMG signals a positive trend in venture...
The CFPB is currently requesting feedback on the potential and risks of using alternative data sources to determine credit scores for financial products. Alternative data sources include rent payments, utility and cell phone bills and other non-traditional credit...
NAFSA leads tribal online lending and financial services from the front. Our members offer innovative, sustainable products and services to the millions of credit invisible and underbanked Americans. The products and services anchor NAFSA’s mission and vision to...
Recent polls suggest that the Trump Administration’s distaste for the CFPB may not be shared by his constituents. A December study released by GloverParkGroup (GPG) regarding regulatory intervention showed only 19% of Trump voters believed Wall Street is...
UPDATE: On February 16th, the D.C. Circuit court announced that it would rehear the PHH case en banc. Its previous ruling is now vacated, including the Court’s holding that the structure of the CFPB is unconstitutional. The constitutionality question is expected to be...