FinTech and banks have long been painted as natural enemies vying for control of the future of consumer finances – but that view is a little out of date, notes Entersekt CTO Gerhard Oosthuizen. These days, banks and FinTechs are increasingly realizing they’ll work better...
Banks, faced with low business growth and fierce competition in the industry, are offering business loans with sweeter terms, which is worrying some regulators. The Wall Street Journal, citing an analysis of lending data, reported that lenders are providing corporate borrowers with lower interest rates...
Responsible short-term, small-dollar loans to consumers will result in increased purchasing power, according to a paper from the American Banking Association about small-dollar lending. The Office of the Comptroller of the Currency (OCC) last week issued new guidance encouraging banks to offer those loans to...
It’s not exactly dogs and cats living together in harmony, but FinTechs and banks — the upstarts and the traditionalists — are certainly cozying up, a trend that looks certain to continue. Take the latest example: Ant Financial Services Group on Wednesday (May 23) announced...
The Office of the Comptroller of the Currency (OCC) issued a new guidance encouraging banks to offer responsible short-term, small-dollar loans to their customers. The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported. In 2013, the OCC...
In order to prevent cybersecurity attacks, U.K. banks are going to have to take chances investing in new technologies at a time when the banks are spending more than the country’s prison system is spending to fight crime. According to Bloomberg, Megan Butler, director of supervision at...
With Europe’s new data protection law coming into effect this week, activists are aiming to turn the tables on big companies that have long harvested data on customers. According to a report in Reuters, activists are requesting massive amounts of data from SCHUFA, the German personal credit...
A bill that would give regional banks a break on regulation won approval in the U.S. House of Representatives on Tuesday (May 22), with the bill now headed to President Trump for his expected signature. The Economic Growth, Regulatory Relief, and Consumer Protection Act, S....
While U.S. states got the nod from the Supreme Court to allow betting on sporting games, it still faces challenges as to how those bets are placed. According to a report in Bloomberg, gamblers may not be able to place bets via a credit card,...