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Weekly Update

TFU | May 18 – 31

Leading Off Kabbage said it’s processed $3.5B in PPP loans, a significant comeback after suspending its small business lending amid the early days of the coronavirus crisis; Samsung and SoFi jointly launched a cash management account and debit card; Google is piloting voice confirmations for payments; payments startup Marqueta raised $150M; and Square’s Cash App […]

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Weekly Update

TFU | Apr. 6 – 19

Leading Off PayPal, Intuit, and Square were approved to disburse emergency small business loans under the coronavirus Paycheck Protection Program; Google is reportedly developing a debit card; Libra reapplied for regulatory approval in Switzerland, presenting a “scaled back” version of its proposed cryptocurrency; the FSB outlined new guidance for global regulation of stablecoins; Ant Financial […]

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Weekly Update

TFU | Dec. 9 – 15

PayPal sued the CFPB regarding its prepaid card rule; Goldman is planning to launch a small-investment digital wealth management service; PNC blocked data aggregators from using its customers’ data; newly revealed documents showed that, for years, the FBI has secretly demanded consumer information from credit agencies; and Robinhood rolled out fractional share trading.

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Weekly Update

TFU | Nov. 18 – 24

Dear readers, we will be off next week in celebration of Thanksgiving in the U.S. (read: we expect to be in a four-day turkey-induced food coma). To those of you in the U.S., warmest wishes for a happy Thanksgiving!; and to everyone, best wishes for a good week ahead. We’ll return on December 9th. Best, […]

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Weekly Update

TFU | Sept. 30 – Oct. 6

E-Trade followed Charles Schwab and TD Ameritrade in dropping its transaction commission fees; PayPal has withdrawn from the Libra Association amid regulatory and legal concerns, and others may follow; the FSB is scrutinizing the concentration of bank services in three major cloud providers; PayPal became the first non-Chinese company to gain a Chinese payments license; and a Wells Fargo study concluded that new technologies will replace 200,000 bank jobs in the next decade. 

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Weekly Update

TFU | Mar. 11-17

The SEC announced it will hold a public forum on DLT and digital assets; IBM is working with CULedger on a digital identity blockchain system and signed a deal with the French commercial court; PayPal now offers instantaneous money transfers to U.S. banks; the Basel Committee has warned banks about their exposure to crypto; the U.K. FCA is considering eliminating investment platform exit fees; and micro-investing startup Stash raised $65 million in new funding and rolled out new banking services in partnership with Green Dot Bank.