Fintech Focus For September 14, 2021
Quote To Start The Day: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”
Source: Henry Ford
One Big Thing In Fintech: The Consumer Financial Protection Bureau’s proposal to collect data on small-business loans has been over a decade in the making, but the fight over the rulemaking is just getting started.
The agency's plan unveiled Sept. 1 has sparked industry concerns that the reporting regime will lead to more fair-lending enforcement and public shaming of banks for alleged discrimination against minority-owned businesses. Bankers are also worried the CFPB's proposed criteria for which lenders report the data are too broad.
Source: American Banker
Other Key Fintech Developments:
Firms Plaid, JPM, Stripe could buy.
IBKR adds crypto trading via Paxos.
FlyCoin intros rewards for traveling.
MoneyLion intros crypto investing.
Evercore taps Citi leader for fintech.
Billogram secured $45M for billing.
NCR is named top fintech provider.
Litecoin Foundation goofs on news.
DivideBuy adds $415M investment.
Stake offers cheapest ASX trading.
Vouch secures $90M in two rounds.
FB, Biden clash amid fintech battle.
Nubank has teamed with Creditas.
Coinbase to add a $1.5B bond sale.
Marqeta and Zip grow from BNPL.
Commercetools has added $140M.
Monzo and Revolut to intro BNPL.
BlockFi CEO eyes regulatory clarity.
MS hired on a UBS fintech banker.
Addison investing in a fintech fund.
Meet Zerodha the trading platform.
Watch Out For This: A handful of European exchange-traded products have logged gains in the triple digits and beyond, but few are available to U.S. investors.
Source: Wall Street Journal
Interesting Reads:
Intuit to acquire Mailchimp for $12B.
Animal Capital on new investments.
BLK: Equities over credit and bonds.
Democrats to undo deductions cap.
COVID-19 cases finally start to drop.
Quit and do nothing is a bad choice.
Market Moving Headline: The growth scare that has prompted investors to seek safety in technology companies is overdone as the economic drag from the delta coronavirus variant is likely short-lived, according to JPMorgan Chase & Co. strategists led by Marko Kolanovic.
Source: Bloomberg
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