Consolidation Looms Over Europe’s Digital Banks After a Tumultuous 2020
Due to the coronavirus pandemic, the prominence of digital banks and online banking has increased substantially over the past year.
SoFi Merges with Social Capital Hedosophia to Form a One-Stop-Financial-Shop
SoFi, the online lender, has merged with SPAC Social Capital Hedosophia to pave the path for the fintech to go public. The...
Open Banking Platform Tink Raises $103M in Latest Funding Round
Open banking fintech Tink raised $103 million in its latest venture capital funding round. The Stockholm based-organization has raised over $210 million...
Google Offers a One-Stop-Shop for Financial Services With New Google Pay App
Google Pay received a significant update the week of Nov. 16 as it introduced the Google Pay App, which focuses on personal...
Square Exceeds Q3 Expectations Due to Bitcoin Trading
Square Inc.’s revenue from bitcoin surpassed expectations in revenue in the third quarter, according to Square’s Q3 earnings report. The payment company...
CFPB Proposes Open Banking Regulations, Opens for Comments
The Consumer Financial Protection Bureau (CFPB) issued an advanced notice of proposed rulemaking. It was completed to regulate how banks and fintech...
SoFi Recieves Preliminary Approval from OCC for National Banking Charter
Social Finance Inc. (SoFi) received conditional approval to establish a full-service national bank by the OCC on Oct. SoFi, which filed the...
DOJ Opens Investigation into Visa’s Acquisition of Plaid
The Department of Justice has filed a petition in the U.S. District Court of Massachusetts to investigate Visa's $5.3 billion acquisition of...
JPMorgan Creates New Unit for Blockchain Projects: Onyx
JPMorgan Chase implemented its digital currency, JPM Coin, commercially for the first time during the week of Oct. 26. A large technology...
OCC Defines ‘True Lender’ Rule for National Banks
The Office of the Comptroller of the Currency issued its "true Lender" rule on Tuesday. The rule aims to define the partnership...