Is there a future in Fintech Banks? On July 31st, the U.S. Treasury Department released a report that prompted the Office of the Comptroller of the Currency (OCC) to begin
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- OCC Believes It’s Time To Fix Madden Issue Once And For All November 19, 2019If a bank makes a legal loan to a consumer and then later sells the debt to a third party, the terms of the loan are still legal right? “Yes” should be the obvious answer, but in 2015 a federal appeals court said “no.” The case was Madden v. Midland Funding LLC, which started as […]
- Merchant Infamous For Safari-Themed Home, Has Died November 19, 2019The saga of Michael Willhoit has come to an end. deBanked wrote about Willhoit in December 2018 when we learned he defaulted on nearly half a million dollars in merchant cash advance transactions and was sued by banks over $4.5 million in bad loan deals. This past June he was also indicted on 36 counts […]
- For ISOs Only — How To Develop Your Factoring Brokerage Business (Part 1) November 17, 2019Let me ask you a question; If you were walking down the street and saw a $100 bill on the sidewalk, would you stop and pick it up? Of course you would, unless you didn’t see it. Or would you say, “I’m in a hurry and it’s ONLY $100. I’ll make a lot more money […]
- Clearbanc Offering Funding to Combat US-China Tariff Costs November 17, 2019Clearbanc, the Toronto-based funding company co-founded by Dragons’ Den’s Michele Romanow, has announced this month that it will be expanding its funding options to support those small businesses who need assistance purchasing inventory from Chinese suppliers. Specializing in funding businesses who require capital for digital adverts, the Canadian firm decided to expand its offerings after […]
- Google to Begin Offering Checking Accounts in 2020 November 17, 2019This week Google announced that it plans to offer checking accounts to customers in 2020. The news comes after the release of the Apple Card, Apple and Goldman Sach’s controversial joint project, in August; this week’s release of Facebook Pay; and the mass exodus by payments companies from Facebook’s Libra Association last month. Titled as […]