UK payment firms push back on APP fraud refund plan
Payments firms are calling for a rethink of UK plans to protect victims of APP fraud, arguing that a refund cap of £415,000 will hurt smaller providers.
Sibli raises $4.5m for AI-powered investment research
Sibli, a startup using AI to help asset managers in the investment research process, has raised $4.5 million in seed funding.
Ripe repossession market prompts Automotive Ventures to invest in Loanbridge
Equifax reported earlier this year that consumer debt in auto loans and leases has surpassed $1.7 trillion, exceeding credit card and student loan debt. Equifax also said delinquencies have increased by 7% year-over-year, reaching a three-year high. It’s trends like … [Read More]
Open Lending certifies 1 millionth contract through Lenders Protection
It’s been a milestone week for Open Lending Corp., which announced the certification of the 1 millionth contract through its Lenders Protection decisioning engine. Company leadership said this achievement underscores Open Lending’s ongoing efforts to empower financial institutions to grow … [Read More]
CFTC takes aim at ID discovery in DeFi
The Commodity Futures Trading Commission (CFTC) is urging policymakers to address identity issues in Decentralized Finance (DeFi) operations.
BIS and Bank of England complete CBDC project
A pilot project involving central bank digital currencies (CBDCs) jointly run by the Bank of England (BoE) and the Bank of International Settlements (BIS).
Monzo co-founder prepares for new era of AI-based self-driving startups
Imagine a company with no human staff, founded and run solely by an AI agent. It sounds like the stuff of sci-fi, but this is a vision of the future that former Monzo co-founder Jonas Templestein is now working to bring into existance.
New EV inventory, used values drop after tax credit expiration
New EV inventory is plummeting industrywide as auto manufacturers curb production and demand wanes following the elimination of the federal…
Podcast: ‘Weekly Wrap’ on loan production, inflationary pressures
The auto finance industry is showing slight improvements in affordability and loan production while worsening credit performance and inflationary pressures…
GM Financial consumer originations fall 3% YoY
GM Financial’s penetration rates and credit performance improved in the first quarter while lease and loan activity held steady. Lease…
Ranney launching new credit-reporting venture this spring
Tim Ranney is getting back into the credit-reporting business this spring. Ranney — who previously owned Clarity Services, which was purchased by Experian in 2018 — is launching Congruit Credit, an emerging national consumer credit reporting agency positioned to usher … [Read More]
UK fintech investment down 37% in H1 2024
The ongoing deline in fintech investment continues in the first half of 2024 but shows signs of bottoming out, acccording to new figures from Innovate Finance.
Top US banks hit by cyber breach at mortgage tech supplier
Major banks in the US are on high alert after a security breach at SitusAMC, a technology supplier to US mortgage lenders, exposed sensitive customer data and accounting records.
Paddle to pay $5m to settle FTC tech support scam claims
UK Fintech Paddle will pay $5 million to settle US allegations of unfair payment processing practices.
Blowout jobs data raise chance of delayed, fewer Fed rate cuts
The biggest US jobs gain in nearly a year boosts the chances Federal Reserve officials will further delay cutting interest…