Mayor Adams said the city is leaning into blockchain and digital assets with their blockchain center in New York and blockchain week.
LendIt Fintech is delighted to announce that we have secured new dates for LendIt Fintech USA 2020. Our flagship event...
The division will focus on corporate compliance and consumer issues and Katherine A. Lemire, a former assistant US attorney has...
The New York Business Journal reports on CB Insights' venture capital data by state noting that fintech investment in New York companies decreased by 35% from the previous quarter to $253 million while deals increased to 24 from 19; three New York City companies, Namely, Trumid and Payfone, were among the top 10 US fintech deals; Namely was second in top fundraisings with $50 million. Source
The New York Department of Financial Services continues to thoroughly investigate the business practices of online lenders; a proposal is in process that would require increased regulation for online lenders; specifically new regulations would be instituted for all lenders making personal loans of $25,000 or less and business loans of $50,000 or less and would also apply to online lenders involved in soliciting loans and buying loans. Source
Superintendent of the Department of Financial Services Adrienne Harris discussed if fintech could live up to the promise of financial inclusion and state regulators' role in her keynote.
A new law has passed in New York to provide support for online lending; the law includes direction for the development of an outreach campaign that will educate small businesses about marketplace lending; educational materials will come from the Department of Economic Development and the Department of Financial Services and will include simple language detailing potential costs and risks including the disclosure of percentage rates, fees, charges and early repayment options. Source
The bill is sponsored by New York State Senator Elaine Phillips; it would allow the Department of Financial Services to...
The city is willing to shell out prize money for new ideas to build better communities, financial first.
The ten fintech firms selected will work closely with 40 plus institutions
Including AIG, Bank of America, Fidelity, & JP Morgan.