Newsletter Sent On: 07/30/2018

90% of PayPal Advances/Loans Are Performing On Pace Read more

Bureau Launches Regulatory Sandbox for Fintech Companies
A regulatory sandbox is a framework set up by a regulator that allows certain fintech companies to conduct experiments for innovative products under the supervision of the regulator. The launch of this BCFP regulatory sandbox coincides with the hiring of Paul Watkins as Director of the Bureau’s new Office of Innovation. Read more

Enova’s Small Business Financing Originations Drop
Our loan portfolio contracted 10% year-over-year and originations were down 23% year-over-year, CEO David Fisher said Read more

ISO Defies Court Order, Continues Impersonating Funder
Despite a Court-ordered injunction, JTT Funding is allegedly still impersonating a funding company and tricking merchants in the process Read more

nCino Partners With Santander
nCino is a cloud-based lending platform that grew out of Wilmington, North Carolina-based Live Oak Bank in 2012 Read more

Transcript and video of the hearing to redefine brokers in California
Broker rules in California are about to become a little bit more strict Read more

Oakmont Capital Services Follows Top Talent to Minnesota
All of the new hires were previously working in the Equipment Finance division of Stearns Bank Read more

Crowdfunding Legal Limit Too Low for Intended Beneficiaries
Crowdfunding advocates say Reg CF should be increased to $20M Read more

Snapchat to Terminate Payment Service Snapcash (And its x-rated subculture?)
Snapchat’s decision to discontinue the payment service may come because of steep competition from Venmo, PayPal, Zelle and Square Cash, which all specialize in payments. But Snapcash may also be a liability for the company since it’s reportedly been used for X-rated activities. Read more

eBay to Begin Rolling Out Apple Pay Acceptance on its Marketplace Platform This Fall
Using Apple Pay on Apple iOS and Safari, consumers will be able to check out on eBay via the app and mobile web. Read more

Tampa Bay Loan Broker Convicted Again
Tampa Bay loan broker Victor Clavizzao pleaded guilty last week to one count of wire fraud, which could land him in prison for up to 20 years Read more

Join The Industry in San Diego On October 4th
Buy tickets to deBanked CONNECT San Diego. At the Andaz in San Diego, deBanked will bring together brokers, funders, and folks from the MCA and small business lending industry for an evening of education, networking, and cocktails. This is a half-day event. Read more

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

The Competitive Enterprise Institute Calls the NYDFS Report on Online Lending Flawed
Via their blog: To start with, much of the analysis offered up by NYDFS includes no supporting evidence. Repeatedly, the study makes broad assertions without substantiating the claims. Read more

Our half-day event is coming October 4th!

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