The CFPB has begun to take the first steps toward more intensive legislation of the short term, small dollar borrowing space – also known as payday lending. Last week, the Federal consumer watchdog announced that it is considering a proposal that would require lenders to take...
With falling prices, the Silk Road trial and various miners going bankrupt, it would be hard to say that so far 2015 has been a banner year for bitcoin. Then again, it seems that the digital currency’s fortunes are improving, as corporate America is beginning...
Alternative small-business lender Kabbage is partnering with analytics startup Orchard Platform to make it easier for institutional lenders to fund consumer loans. The loans will come through Kabbage’s six-month-old Karrot service, which offers unsecured consumer loans up to $35,000 that are repaid over three to...
Small-business lending marketplace Lendio has closed a $20.5 million funding round to grow its team and partnerships, the company announced on Tuesday (March 24). The Series C round was led by Napier Park Financial Partners Group, with participation from Blumberg Capital, North Hill Ventures and...
Micro-loan startup Kreditech is investigating a November 2014 data breach that resulted in hackers posting the personal and financial records of thousands of applicants online, Krebs on Security reported on Tuesday (March 24). A spokesperson for Kreditech confirmed the breach, which she called an “isolated...
Seattle-based startup Remitly has raised another $12.5 million to help Indian and Filipino immigrants send money home from the U.S., according to a March 19 press release. The Series B funding round, which, according to Tech In Asia, more than doubled the amount the company has...
Yesterday (March 23) the Network Branded Prepaid Card Association (NBPCA) formally requested that the CFPB show “restraint” as it goes into its final rule making on prepaid products. “We appreciate the efforts of the CFPB staff to better understand the prepaid market, but we have...
In the months and weeks after the shooting of Michael Brown by Ferguson police, the waves of protests and riots that followed have left the small business owners in the area with an expensive set of problems. As many as 26 businesses in the greater...
Invoice-lending startup Fundbox has pulled in another $40 million from investors to help small businesses survive until they get paid for outstanding invoices, TechCrunch reported on Thursday (March 19). General Catalyst Partners led the Series B funding round, with participation from NyCa Investment Partners. Existing...