Newsletter Sent On: 12/08/2022

I Interviewed a Broker and Then Found Out it Was an AI Read more

Weigh In: Should The New York Commercial Financing Disclosure Law Be Preempted by TILA?
The CFPB issued a statement on Wednesday to announce that it does not believe that New York's commercial financing disclosure law is preempted by the Truth in Lending Act (TILA). In a simple sense... Read more

Funding Companies Sue California Regulator Over Looming Disclosure Law
The alarm bells sounded over California's commercial financing disclosure law were more than rhetorical bluster. This past Friday, a trade association representing dozens of small business finance com... Read more

Missouri Reintroduces its Commercial Financing Disclosure Bill
In a preview of what's to come in 2023, Missouri State Senator Justin Brown (R) has reintroduced a commercial financing disclosure bill. SB 187, which is significantly less stringent than the law abou... Read more

Somehow, Blueacorn (who?) and Womply (who?) Became the Faces of Fintech in Congressional Investigative Report on PPP Fraud
According to a newly published congressional committee investigative report, fintechs facilitated PPP fraud. How this happened is laid out in 130 pages of detail that seemingly puts the brunt of the b... Read more

Avant Secures $250M
This fintech is still kicking Read more

LendingClub Buys Its Own Portfolio
In other news, a bank was forced to buy its own loan portfolio from someone else Read more

Newtek to Acquire NBNYC
Newtek will acquire the National Bank of New York City Read more

Cop and City Attorney Charged in PPP Fraud
Apparently there was no limit to who was willing to defraud the government Read more

Plaid Lays Off 20% of Staff
Via TechCrunch Read more

Kevin O'Leary Lost Out on $15M With FTX
The FTX catastrophe has apparently cost the Shark Tank investor $15M Read more

JG Wentworth Acquires Stilt
Via PR Newswire Read more


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