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·Jan. 15, 2024

Fintech Nexus Newsletter (January 15, 2024): New AI working group formed by House Financial Services Committee

The impact of AI in financial services will gain a renewed focus on Capitol Hill. There has been an AI task force on the House Financial Services Committee for some time but we learned late last week that a new bipartisan working group on AI has been formed.

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Fintech Nexus Newsletter

·May. 28, 2024

Fintech Nexus Newsletter (May 28, 2024): PayPal is launching a new ad business

Last month, it was Chase, this month, it is PayPal launching a new ad business. PayPal has hired Uber's former head of advertising to run PayPal Ads, the new division that will be selling targeted ads based on its customer data.

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Fintech Nexus Newsletter

·Oct. 23, 2023

Fintech Nexus Newsletter (October 23, 2023): Marqeta Plays Credit Card Cupid

Marqeta, having already made their mark as a debit card issuing partner, has launched a credit card issuing platform.

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Fintech Nexus Newsletter

·Jan. 5, 2024

Fintech Nexus Newsletter (January 5, 2024): Trade associations have suggestions for the CFPB open banking rule

When the CFPB released their long-awaited proposal on open banking rules in October there was cautious optimism from both banking and fintech groups. Fast forward two and a half months, when everyone has had a chance to fully digest the 299-page proposed rulemaking, there are many suggestions for improvement. With the 60-day comment period ending this week, the CFPB has received over 11,000 comments.

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Fintech Nexus Newsletter

·Feb. 5, 2024

Fintech Nexus Newsletter (February 5, 2024): LendingClub’s agreement with the OCC expired Friday

It was three ago last week when LendingClub closed its acquisition of Radius Bank. At that time LendingClub entered into an operating agreement with the OCC that imposed capital restraints and growth limits on the fintech pioneer.

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Fintech Nexus Newsletter

·Apr. 10, 2024

Fintech Nexus Newsletter (April 10, 2024): Santander to launch digital bank in the US and Mexico in 2024

We learned a couple of weeks back that the former head of Marcus, Swati Bhatia, had taken a job at Santander to lead U.S. consumer and business banking. Yesterday, we learned more details about what this new job is going to entail.

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Hong Kong, October 08 2017: JPMorgan Chase & Co. building in Central, Hong Kong . JPMorgan is a Swiss global financial services company, One of big financial company in the world

Fintech Nexus Newsletter

·Nov. 10, 2023

Fintech Nexus Newsletter (November 10, 2023): JPMorgan brings programmable money to banking

Today, the company announced that they had added a programmable payments feature to their private permissioned blockchain-based JPM Coin.

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Fintech Nexus Newsletter

·Jan. 9, 2024

Fintech Nexus Newsletter (January 9, 2024): California law targeting small business lending fees goes into effect

Small business lending is more complicated than consumer lending. Both have term loans and lines of credit but in small business you also have SBA loans, revenue-based financing, merchant cash advances, venture debt, equipment finance, invoice factoring, asset-based financing and more. This leaves a lot of room for unscrupulous lenders to charge hidden fees on some of these products.

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Fintech Nexus Newsletter

·Mar. 13, 2024

Fintech Nexus Newsletter (March 13, 2024): Stripe processed more than $1 trillion in payments in 2023

Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale. But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded.

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Fintech Nexus Newsletter

·Feb. 9, 2024

Fintech Nexus Newsletter (February 9, 2024): Overdraft fees at the top three banks down 25%

Overdraft revenue is on the decline, but recent filings show that JPMorgan Chase and Wells Fargo remain by far the largest generators of the controversial fees.

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