July 25, 2023 @ 8:22 am By JD Alois  |  

The Clarity for Payment Stablecoins Act of 2023 (HR 4766) will be discussed in a markup hearing today of the House Financial Services Committee. During the hearing, the language of the bill will be reviewed, and additional amendments may or may not be added before… Read More

July 24, 2023 @ 9:59 pm By JD Alois  |  

EstateGuru, a platform that matches borrowers with investors, has provided a half year update on its activities. The company reported that during the first 6 months of the year, EstateGuru has financed 269 separate real estate projects raising €44 million. During the same period, investors… Read More

July 24, 2023 @ 7:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting for later this week. On Wednesday, the Commission will consider new rules for several items. According to the agenda, the Commission will consider. Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure – Division of… Read More

July 24, 2023 @ 12:46 pm By JD Alois  |  

Justly, once an emerging impact investing platform, has exited the space to focus on the EV or electric vehicle industry, according to a company statement. Justy is a subsidiary of Ideanomics (NASDAQ: IDEX), a US-based “impact broker-dealer” focused on private equity and debt markets. Ideanomics… Read More

July 24, 2023 @ 12:23 pm By JD Alois  |  

The Prudential Regulation Authority (PRA), part of the Bank of England, has assessed a “record fine” on Credit Suisse due to its exposure to Archegos Capital Management. Archegos collapsed spectacularly in 2022 leaving losses of billions of dollars. The failure has led to both criminal… Read More

July 24, 2023 @ 12:10 pm By JD Alois  |  

Experian has announced the availability of real-time employment verifications as well as income. The service is aimed at credit or loan providers. The information is said to come directly from employer payroll services. Experian claims to cover over 85% of the US workforce for the… Read More

July 24, 2023 @ 10:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) published final guidance on the new Consumer Duty initiative last year. Firms are expected to implement the requirements by the end of this month. Consumer Duty sets a “standard of care” for financial services firms in retail markets aiming… Read More

July 24, 2023 @ 10:26 am By JD Alois  |  

Profitable digital bank bunq has raised more money. According to a note from the firm bunq has received €44.5 million at a pre-money valuation of €1.65 billion.  In 2021 bunq raised €193 million at the same valuation. Bunq was founded by Ali Niknam after he… Read More

July 24, 2023 @ 9:43 am By JD Alois  |  

Customers Bancorp (NYSE:CUBI) is the new crypto-crush when it comes to banking firms in the digital asset sector. A recent report by Bloomberg notes that the Pennsylvania-based regional bank says that “hundreds of digital asset firms,” including stablecoin issuers, crypto exchanges, and market makers, are… Read More

July 24, 2023 @ 6:17 am By JD Alois  |  

This past April, CI held a webinar on Impact Investing – a growing concept within the broader investment ecosystem. Sectors of investment frequently include Green investments and sometimes social issues like housing or underserved communities. If you want to invest via public markets, Fintech Betterment… Read More

July 23, 2023 @ 10:19 pm By JD Alois  |  

Nova Money is another artificial intelligence (AI) firm that has entered the financial services sector. The company is offering a service that leverages AI to forecast an individual’s future financial situation to help people make better decisions. The company also plans to raise capital online… Read More

July 23, 2023 @ 6:19 pm By JD Alois  |  

Israeli cyber defense firm Perception Point recently uncovered a plot that scammed over $55 million from Mexican individuals. Perception Point is also an OurCrowd portfolio company that has raised capital four times on the platform starting in 2019 with the last funding round finished in… Read More

July 22, 2023 @ 4:42 pm By JD Alois  |  

One of the largest securities crowdfunding platforms in the US continues to move the ball down the field in a self-crowdfunding round. It was reported in May that StartEngine had raised $14 million. Today that amount is well over $16 million. Almost 9000 investors have… Read More

July 21, 2023 @ 6:25 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the issuer of DWE and BPC alleging the issuance of unregistered securities.  The SEC claims that  Alexander Elbanna and his affiliated entities have committed fraud. According to the SEC, between February 2018 and April 2021,… Read More

July 21, 2023 @ 4:23 pm By JD Alois  |  

Apple (NASDAQ:AAPL), one of the largest Fintechs in the world, is gaining traction with its new Buy Now Pay Later (BNPL) product. Released this past March but announced months prior, Apple says that Apple Pay Later wants to support its users financial health. The credit… Read More

July 21, 2023 @ 11:43 am By JD Alois  |  

US Fintech funding increased by 42% during the first half of 2023 when compared to the last half of 2022, according to a report. Fintech funding hit $12.8 billion from January to February 2023 but still down by 33% when compared to the same period… Read More

July 21, 2023 @ 11:29 am By JD Alois  |  

The Digital World Acquisition Corporation (NASDAQ:DWAC), a special purpose acquisition company (SPAC) has been charged with material misrepresentations by the Securities and Exchange Commission (SEC). DWAC has agreed to a cease-and-desist order and to pay an $18 million penalty in the event it closes a… Read More

July 21, 2023 @ 10:21 am By JD Alois  |  

The Subcommittee on Digital Assets, Financial Technology and Inclusion, part of the House Financial Services Committee, and the Subcommittee on Commodity Markets, Digital Assets, and Rural Development, part of the House Agriculture Committee, have revealed the Financial Innovation and Technology for the 21st Century Act… Read More

July 20, 2023 @ 5:37 pm By JD Alois  |  

Puerto Rico is unique in the fact it is part of the United States yet residence do not pay any federal taxes. It is part of the concept of taxation without representation and Puerto Rico does not have any voting members in Congress. This fact,… Read More

July 20, 2023 @ 1:44 pm By JD Alois  |  

Nigel Farage, a political leader in the UK who was a staunch supporter of Brexit, recently had his account canceled by Coutts, part of Natwest – ostensibly because his balance went below their minimum threshold. Following the loss of his account, Farage lambasted the bank… Read More