Fintech Focus For September 14, 2021

Quote To Start The Day: “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”

Source: Henry Ford

One Big Thing In Fintech: The Consumer Financial Protection Bureau’s proposal to collect data on small-business loans has been over a decade in the making, but the fight over the rulemaking is just getting started.

The agency's plan unveiled Sept. 1 has sparked industry concerns that the reporting regime will lead to more fair-lending enforcement and public shaming of banks for alleged discrimination against minority-owned businesses. Bankers are also worried the CFPB's proposed criteria for which lenders report the data are too broad.

Source: American Banker

Other Key Fintech Developments:

• Firms Plaid, JPM, Stripe could buy.
• IBKR adds crypto trading via Paxos.
• FlyCoin intros rewards for traveling.
• MoneyLion intros crypto investing.
• Evercore taps Citi leader for fintech.
• Billogram secured $45M for billing.
• NCR is named top fintech provider.
• Litecoin Foundation goofs on news.
• DivideBuy adds $415M investment.
• Stake offers cheapest ASX trading.
• Vouch secures $90M in two rounds.
• FB, Biden clash amid fintech battle.
• Nubank has teamed with Creditas.
• Coinbase to add a $1.5B bond sale.
• Marqeta and Zip grow from BNPL.
• Commercetools has added $140M.
• Monzo and Revolut to intro BNPL.
• BlockFi CEO eyes regulatory clarity.
• MS hired on a UBS fintech banker.
• Addison investing in a fintech fund.
• Meet Zerodha the trading platform.

Watch Out For This: A handful of European exchange-traded products have logged gains in the triple digits and beyond, but few are available to U.S. investors.

Source: Wall Street Journal

Interesting Reads:

• Intuit to acquire Mailchimp for $12B.
• Animal Capital on new investments.
• BLK: Equities over credit and bonds.
• Democrats to undo deductions cap.
• COVID-19 cases finally start to drop.
• Quit and do nothing is a bad choice.

Market Moving Headline: The growth scare that has prompted investors to seek safety in technology companies is overdone as the economic drag from the delta coronavirus variant is likely short-lived, according to JPMorgan Chase & Co. strategists led by Marko Kolanovic.

Source: Bloomberg