Newsletter Sent On: 06/26/2018

An ISO Brokers Main Street Deals – on Main Street Read more

Tech Changes Lending And Payments The World Over
From deBanked's May/June Magazine issue Read more

Usury Argument in Merchant Cash Advance Suit Backfires Horribly
A judge awarded attorney fees to an MCA company when a merchant tried to argue that the agreement was really a loan. Apparently the nature of MCAs is so well settled that challenging them can get you in trouble with the court Read more

Pepper the Robot is Now Working at HSBC in Midtown
deBanked was invited to the unveiling of Pepper the Robot at HSBC's flagship New York City branch this morning Read more

Lawyers Weigh in on Federal Decision That CFPB is Unconstitutional
In light of a federal court ruling yesterday that the structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional, deBanked spoke with some lawyers to get their perspective on what this decision could mean. Read more

Stacking Lawsuit Results in Settlement Before Trial
A lawsuit between RapidAdvance and Pearl Capital over tortious interference will not be going to trial after all, deBanked has learned. Originally scheduled to begin on June 25th, the parties have reportedly reached a settlement. Read more

LendUp Adds Top Capital One Veterans to Its Board
Capital One co-founder Nigel Morris joined as board chair, and Frank Rotman, an early Capital One employee and its longtime Chief Credit Officer, joined as board member. Read more

When to Hire a Collection Company
Differences of opinion exist but major collectors offer their services at all stages of the process Read more

Why KeyBank Acquired Small Business Lending Platform from Bolstr
"We found Bolstr to have a very flexible capability…and we believe that having the platform will allow us to get to a decision faster," Warder told deBanked. Read more

P2Binvestor raises $17M
Venture capital Venture funding Fintech Community banking New Resource Bank The crowd lending startup P2Binvestor has secured more than $17 million in funding from more than 20 participants to expand its bank partnership program, the company announced Thursday. It was the fourth round of funding for the Denver company. The combination of debt and equity brings P2Binvestor’s total equity raise to over $13 million since 2013. The round was led by angel investors. Read more

With Gusto, Employees Choose Their Own Payday
With Flexible Pay, employees can get paid weekly or for work they did the previous day. Gusto gives an advance to the employer to pay the employee. Since this service is brand new, Gusto will be making these loans and keeping them on their own balance sheet. Read more

National Business Capital Releases Hybridge SBA
Part small business loan, and part SBA loan, the Hybridge SBA™ Loan was created by NBC to meet the rising demand of small business owners that wish to gain SBA funding without having to wait out the long and arduous SBA funding process. Read more

Get Certified in MCA Basics
Make sure you know how MCAs really work before you sell them Read more

New York Requires Credit Reporting Agencies to Register with DFS and Comply with State's Cybersecurity Regulation
The final regulation requires all consumer credit reporting agencies that have assembled, evaluated, or maintained a credit report on a consumer who is a resident of New York within the prior 12 months to register with the DFS, on or before September 15, 2018, and renew their registration annually. Read more

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