Three major financial services trade organizations have filed a lawsuit against a new Colorado statute imposing interest-rate and fee caps on loans by state-chartered banks, including those from outside the state. The American Fintech Council (AFC), the American Financial Services Association (AFSA), and the National Association of Industrial Bankers (NAIB) argue that this law conflicts with federal regulations and limits consumer choice.
The American Fintech Council (AFC) has announced the inclusion of Wagestream as its newest member. Founded in 2018, Wagestream offers a financial benefits platform that includes Earned Wage Access (EWA), and is used by over 1,000 employers and 3 million employees.
The American Fintech Council (AFC) has announced that the Aspen Institute Financial Security Program (Aspen FSP) has joined its Community Advisory Board (CAB). The CAB is designed to expand and inform AFC's mission of promoting policies that advance responsible innovation and inclusivity within financial services.
The American Fintech Council (AFC) has voiced its opposition to legislative proposals in Rhode Island and Washington, D.C., arguing that the measures could negatively impact state-chartered community banks and limit financial options for local families. The AFC, which represents fintech companies and innovative banks, presented its concerns to the Rhode Island Senate Committee on Commerce and Policy and the D.C. Council Business and Economic Development Committee.
Michael Wong, a Senate staffer with over a decade of legislative experience, has been appointed as Senior Vice President of Government Affairs at the Bank Policy Institute (BPI). He is set to begin his new role on April 8. Wong's most recent position was as Senior Advisor for Policy and Strategy to Senator Kyrsten Sinema of Arizona.
Fran Brayford, a Case Manager at Assetz Capital, has been with the company since September 2019. She joined after taking redundancy from Lloyds Bank Group. Her career in finance and banking began in 1987 when she was employed by North West Securities in Chester, which was part of the Bank of Scotland. Over the years, she held various roles as the company transitioned to Capital Bank plc, Bank of Scotland, HBOS, and finally Lloyds Banking Group. Her roles included Interventions Manager, Relationship Manager in Litigation Funding, and Assistant Relationship Director within the...
The theme for International Women's Day 2024, "#InspireInclusion," is being embraced by Assetz Capital as they celebrate women's achievements and advocate for a diverse, equitable, and inclusive world. Employees of the company have shared their thoughts on the significance of this day and their experiences working in a predominantly male industry.
Assetz Capital has announced an expansion of its partnership with Aros Kapital in the UK's lending market. This development is expected to result in Assetz Capital deploying over £200 million of Aros Kapital's funding across various sectors throughout 2024.
Barclays PLC and Blackstone Credit & Insurance have announced an agreement involving the sale of approximately $1.1 billion in credit card receivables by Barclays Bank Delaware (BBDE) to insurance accounts managed by Blackstone's Asset Based Finance group. This transaction pertains to a specific set of Barclays-branded credit card accounts in the United States.
Navy Federal Credit Union has announced plans to offer a paycheck assistance program to its members in anticipation of a possible federal government shutdown.
Ed Hill will be leaving his position as Head of Government Affairs at the Bank Policy Institute (BPI) on March 22. He is set to join Forbes Tate, a multi-client advocacy firm. In light of Hill's departure, Erik Rust, who currently serves as Deputy Head of Government Affairs, will be promoted to fill the role.
The Bank Policy Institute, American Bankers Association, and Consumer Bankers Association have submitted recommendations to the U.S. Department of Treasury. These suggestions aim to assist in formulating a nationwide strategy for financial inclusion. This initiative comes as more consumers than ever have access to banking services, with banks investing significantly in various activities to meet consumer needs.
Manchester-based lender Assetz Capital has introduced a new Planning Assistance Loan aimed at aiding the conversion of commercial buildings into residential spaces. This loan targets experienced property developers seeking to acquire commercial properties and secure residential, PBSA, or PRS planning permission for redevelopment.
Bill Nelson, Chief Economist at the Bank Policy Institute (BPI), is set to testify at a House Financial Services Subcommittee hearing focused on the Federal Reserve's discount window. The hearing, titled "Lender of Last Resort: Issues with the Fed Discount Window and Emergency Lending," will address the role of the discount window in maintaining banking system liquidity.
The Bank Policy Institute (BPI) has submitted a statement to the U.S. House Financial Services Committee regarding its oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence. The statement commends FinCEN staff for their diligence but criticizes the lack of changes in AML compliance examinations following new legislative requirements.