The Consumer Financial Protection Bureau (CFPB) is working to crack down on companies that operate comparison-shopping tools for financial products and manipulate the results. The CFPB issued a circular to law enforcement agencies and regulators that explains how these companies can break the law when they accept kickbacks and...
Credit unions (CUs) are known for their personalized and member-focused services, which is an attractive offering for many of their members. But alternatively, they have paid less attention to digital innovations than rivals such as FinTechs or digital-only banks. Lagging in digital innovations poses a...
The Commodity Futures Trading Commission (CFTC) is reportedly working on a draft proposal to enhance regulatory defenses and protect client funds. Coming in response to last year’s collapse of crypto giant FTX, the proposal aims to expand the scope of existing regulations to include exchanges that allow...
LendingClub has crossed the $1 billion mark in personal loans sold through its Structured Loan Certificates Program (SLCLC Program) since the launch of that program in April. The company expects to double this volume to $2 billion over the next six months as it continues...
January 09, 2023
Macro headwinds aside, embedded finance is poised for long-term growth. Itai Damti, CEO of the Banking-as-a-Service platform (BaaS) Unit, told PYMNTS that BaaS and embedded finance models would change the banking, payments and retail dynamics. Short term, the evolution of any ecosystem depends on the availability of capital and the economy’s health. But, when looking […]
March 26, 2024
The U.K.’s financial watchdog is warning social media influencers against making misleading financial services promotions. The Financial Conduct Authority (FCA) on Tuesday (March 26) issued guidelines aimed at social media advertising, telling influencers they could be breaking the law by promoting financial products without regulatory approval. “Any marketing for financial products must be fair, clear and not misleading so consumers can […]
February 29, 2024
The Consumer Financial Protection Bureau (CFPB) is working to crack down on companies that operate comparison-shopping tools for financial products and manipulate the results. The CFPB issued a circular to law enforcement agencies and...
November 09, 2023
The Commodity Futures Trading Commission (CFTC) is reportedly working on a draft proposal to enhance regulatory defenses and protect client funds. Coming in response to last year’s collapse of crypto giant FTX,...
November 09, 2023
LendingClub has crossed the $1 billion mark in personal loans sold through its Structured Loan Certificates Program (SLCLC Program) since the launch of that program in April. The company expects...
