Three questions for former CFPB Deputy Director Raj Date Earlier this month, Department of Government Efficiency (DOGE) czar Elon Musk declared, with his usual subtlety, “CFPB RIP ?.” And indeed, the Consumer Financial Protection Bureau (CFPB) is teetering on the edge of irrelevance. Russ Vought, the acting CFPB Director and architect of Project 2025 for […]
Why Orum eyes debit cards as the rails for more market share The adage “If you build it they will come” applies inconsistently to the payments space. The mixed-results history of monetary projects — from the hodge podge of bank-issued currencies that preceded national tender to the alphabet soup of cryptocurrencies and stablecoins hoping for […]
When we started Fintech Nexus in 2013 (known as LendIt back then) we did not have grand plans. The idea was simply to gather the brain trust in the newly-emerging online lending industry so we could learn from each other, network, and do business. We figured we would work on a small event a few […]
Looking back over my decade-plus covering fintech, I see parallels between earned wage access (EWA) today and the past paths of equity crowdfunding, peer-to-peer lending and BNPL. Others in the industry do, too. In broad strokes, entrepreneurs use new(ish) technology to create a novel solution to an existing problem or to refresh an old idea […]
The Synapse debacle continues. Former FDIC Chair Jelena McWilliams is the court-appointed trustee managing the bankruptcy process. She was appointed on May 24. On Friday, the bankruptcy judge held a hearing during which the first report from McWilliams was discussed. She has been trying to reconcile the missing funds, and it appears that there is an […]
Since 2021, U.S. entrepreneurs have submitted five million new business applications per year, according to the U.S. Census Bureau. And in 2023, the number of new small business formations increased by nearly 9% compared to the previous year, suggesting that the growth of the small business sector shows no signs of abating. This creates a […]
Fintech Nexus Newsletter (June 11, 2024): Apple introduces Tap to Cash for iPhone to iPhone payments
Yesterday, Apple held its annual Worldwide Developers Conference (WWDC), during which it made several interesting announcements. The most relevant to fintech is the new “Tap to Cash” feature that will be built into iOS18. As it sounds, this will allow users to send and receive Apple Cash simply by holding two iPhones together. There were also […]
Enjoying our podcasts? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, YouTube, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! Nico Simko, Founder & CEO of Clair I have made no secret of my affection for earned wage access (EWA) as a product. It […]
Ready to Sign Up for a Gen AI Certification Program? Fintech Founders & Others Weigh In on the Trend
The use of Generative AI tools is on the rise, and with it has come the emergence of professional certification programs that specialize in Gen AI knowledge and training. Fintech firms—particularly those that tout their Gen AI expertise—are being asked to consider whether such programs are helpful to their employees and technology teams at this […]
Enjoying the podcast? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! It is a simple problem that every card issuer has. You have issued a credit or debit card to a new customer, so how […]