Articles by Brendan Garrett

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Hudson Cook Partner Appointed to CFPB Taskforce on Federal Consumer Financial Law

January 14, 2020
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Jean Noonan, a Partner at Hudson Cook, LLP, has been announced as one of the new members of the Consumer Financial Protection Bureau Taskforce on Federal Consumer Financial Law. Seeking to produce research and legal analysis of US consumer financial laws, over the next year the taskforce will focus on “harmonizing, modernizing, and updating the […]

Visa Acquires Plaid in $5.3 Billion Deal

January 14, 2020
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Yesterday it was announced that Visa and Plaid, the financial services company that helps business connect with customers’ bank accounts, have penned a deal that would see Visa purchase the San Francisco-based startup for $5.3 billion. The purchase price is roughly double Plaid’s previous valuation of $2.7 billion after its 2018 Series C investment of […]

Amazon Says Browser Extension No Longer Secure, Just After PayPal Acquired It

January 13, 2020
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Last week Politico reporter Ryan Hutchins noted on Twitter that Amazon has been alerting its website users who had installed Honey that the browser extension is no longer safe. The extension, which searches the web for sales coupons for items in your checkout basket and automatically applies them, was recently acquired by PayPal for $4 […]

Pacific Equity And Loan Acquires Emerald Capital Funding

January 12, 2020
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This week Pacific Equity & Loan, a hard money lender based in Washington state, acquired Emerald Capital Funding. Done to “provide more resources and investment opportunity to real estate investors in the Washington market,” according to a statement from PEL, the merger will see all of ECF’s staff move over to PEL. “The move comes […]

New Small Business Administration Chief Confirmed

January 9, 2020
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Jovita Carranza

The newest Administrator of the SBA was announced on Tuesday. Jovita Carranza was appointed after President Trump had tweeted the previous Thursday about her nomination. I am pleased to announce that Jovita Carranza will be nominated as the new @SBAgov Administrator. She will be replacing Linda McMahon, who has done an outstanding job. Jovita was […]

Report Finds Canadian Alternative Lending Market Making Gains

January 8, 2020
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Canada State

A study released by Smarter Loans this week indicates that the Canadian alternative finance industry has grown since last year’s iteration of the report. Titled ‘The State of Alternative Lending in Canada 2019,’ the report highlights how the market has developed in regard to the age and gender of its customers, the level of trust […]

The Scoop Behind The Primary Capital / Infinity Capital Funding Acquisition

January 6, 2020
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Primary Capital

This morning, Primary Capital announced that it had acquired the merchant cash advance division of Infinity Capital Funding. Infinity, which has been operating from California since 2006, began as an MCA company before expanding to offer small business loans as well. The acquisition will see Infinity’s thirteen years of data, technology, and merchant portfolios pass […]

Robocalls Targeted by Trump, Cuomo, Michigan Attorney General

January 2, 2020
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TCPA rules on cell phones

In what turned out to be a tough week for illegal robocalls, both the President and New York’s Governor have been behind bills set to combat the invasive form of marketing. On Tuesday, President Trump signed the TRACED (Telephone Robocall Abuse Criminal Enforcement & Deterrence) Act, bringing into effect legislation first introduced to in November […]

Ocrolus Announces Premium Fintech Platform, Ocrolus+ at New York City Event

December 12, 2019
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Ocrolus Event

Last night Ocrolus, the New York-based fintech infrastructure company that specializes in document verification and cash-flow analytics, announced its latest product, the Ocrolus+ platform from Chelsea’s Glasshouses. Following a series of testimonies from companies such as BlueVine, OnDeck, and Enova, Ocrolus’s CEO, Sam Bobley took to the stage to run through what the new platform […]

Merchant Growth Partners with goeasy to Provide Funding via Physical Branches

December 11, 2019
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Merchant Growth goeasy

This month Merchant Growth, the Vancouver-based alternative finance company, announced its partnership with goeasy Ltd. that will see Merchant Growth’s services being offered in goeasy branches throughout Canada. Beginning with British Columbia, Alberta, and Saskatchewan in 2019, Merchant Growth aims to have expanded to the remaining provinces in the first quarter of 2020. Under the […]

The Broker: How Gerald Watson Mixes Factoring with MCAs

December 3, 2019
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Gerald Watson - The Watson Group

Role? I’m the owner of The Watson Group, a factoring broker company.   How did you end up in the industry? I got started in what I call the contract financing industry about 35 years ago, kind of by accident. I had spent years working with a large management consulting company in Boston and we […]

Clearbanc Offering Funding to Combat US-China Tariff Costs

November 16, 2019
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made in china

Clearbanc, the Toronto-based funding company co-founded by Dragons’ Den’s Michele Romanow, has announced this month that it will be expanding its funding options to support those small businesses who need assistance purchasing inventory from Chinese suppliers. Specializing in funding businesses who require capital for digital adverts, the Canadian firm decided to expand its offerings after […]

Google to Begin Offering Checking Accounts in 2020

November 16, 2019
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G Pay

This week Google announced that it plans to offer checking accounts to customers in 2020. The news comes after the release of the Apple Card, Apple and Goldman Sach’s controversial joint project, in August; this week’s release of Facebook Pay; and the mass exodus by payments companies from Facebook’s Libra Association last month. Titled as […]

Apple Card Under Investigation by State Financial Regulator

November 14, 2019
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apple card

Apple and Goldman Sachs came under fire this week after numerous users of the Apple Card, a joint venture by the two companies, took to social media claiming that the algorithm used to determine credit limits discriminated against women. It began when Danish tech entrepreneur and racecar driver David Heinemeier Hansson wrote up an expletive-laden […]

BFS Capital Hires New COO

November 12, 2019
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BFS Capital Website

BFS announced this morning that it has hired Brian Simmons as its new Chief Operating Officer. The news come as the company is preparing for the North American launch of its tech platform in December, a move that is part of BFS’s vision to become a more customer-focused business. This planned “journey,” as CEO Mark […]

Canadian Lender’s Association Awards Leading Executives and Companies

November 11, 2019
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cla leaders

Today the CLA announced the winners for its 2019 Leaders in Lending Awards. Highlighting the efforts of exceptional players within the fintech and alternative finance fields, the awards seek to “celebrate the industry and celebrate all the cool fintech things happening in Canada,” according to the CLA’s Strategic Partnerships Director Tal Schwartz. Now in its […]

Factoring for Freelancers

November 8, 2019
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The number of freelancers in America is quickly growing year on year, with a recent study indicating the percentage of full-time freelancers has increased from 17% of the workforce in 2014 to 28% in 2019. Representing a host of fields, from writing and photography to marketing and programming, the incomes and needs of such workers […]

David Goldin is BACK – The Scoop Behind His Return

November 7, 2019
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David Goldin

“When I started, the term merchant cash advance didn’t even exist. There really were no business loans back then, the word ‘fintech’ didn’t exist, ‘alternative lender’ didn’t exist … Back in the day it was all about getting a credit facility, and that was like the iPhone 5, and now we’re the iPhone 11. There’s […]

Lendio Says There’s Been a Strong Uptake Of Sunrise

November 6, 2019
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Brock Blake Lendio

Last week Lendio announced that its bookkeeping and invoicing service, Sunrise, had partnered with WePay, an integrated payments business of JPMorgan Chase, to form the freemium product Sunrise Pay. Stemming from an acquisition in Q1 of this year, Sunrise, formerly Billy, was picked up by Lendio after the company realized many of its customers who […]

Lenders, Leaders, and Las Vegas: Money20/20 Review

November 3, 2019
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Two things arrived in Las Vegas last month: the first being an unusual dip in local weather, with temperatures dropping to the low forties at times and woolen hats making an appearance; the second being Money20/20. Now in its seventh year, the conference runs smoothly to the point of being habitual, a trait several attendees […]