Category: FinTech News
FinTech News
FinTech News
Bank of America Adds One-Tap Investing Access to Mobile App
In a 21st century upgrade that Senator Glass and Congressman Steagall would sure shake their heads at, Bank of America has unveiled new features that make it easier for banking customers to access their investments via a streamlined app experience. Now, instead of needing to log into the Merrill Lynch app when switching over from the BofA application, users will simply need to make a single tap to be transported to...
FinTech News
Senator Elizabeth Warren Criticizes Treasury Department Report on FinTech
It seems the latest FinTech news has been less about funding rounds, acquisitions, or IPOs and has instead been dominated by talks of regulation. Just a couple of weeks ago New York Department of Financial Services superintendent Maria Vullo filed a lawsuit against the Office of the Comptroller of the Currency, seeking to stop the agency from issuing national bank charters to FinTech firms. Not long after that the Senate Banking Committee also...
FinTech News
Acorns Launching "Money Lab" to Find Financial Wellness Solutions
If you follow FinTech, there's a good chance you've heard of the micro-investing app Acorns. Using painless savings methods such as their "Round Ups" feature, Acorns aims to make investing easy and help its users to improve their finances Now the company is looking to further that goal with the launch of Money Lab. Today at Yahoo! Finance's All Markets Summit, the company announced that it was bringing Shlomo Benartzi of...
FinTech News
New York State Regulator Suing OCC Over FinTech Charters
Just over a month after the Office of the Comptroller of the Currency began accepting applications from FinTech firms to become Special Purpose National Banks, one state regulator is now suing the federal government in hopes of halting those charters. Reuters reports that New York has filed a lawsuit suggesting that the FinTech charters are unconstitutional and in violation of the 10th amendment. The suit also accuses the OCC of overstepping the...
FinTech News
FinTech App Robinhood Eyeing Initial Public Offering
2018 has been a pretty good year for the stock trading app Robinhood. Earlier this year the company introduced Robinhood Crypto, allowing users to buy and sell various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. Additionally the app recently introduced support for options trading. Now, speaking at TechCrunch Disrupt SF, Robinhood CEO Baiju Bhatt revealed that the company is currently looking to go public. As part of his announcement, Bhatt explained that the...
FinTech News
Bitcoin, Other Cryptos Get Hit on Bad News
The rollercoaster experience that comes with cryptocurrencies seems to be in full effect this week, with Bitcoin and others falling significantly. In less than 24 hours, $BTC plunged from a high of around $7,380 to a low of nearly $6,400. Notably that puts the currency below the $7,000 mark, which as Forbes notes has been regarded as a psychological milestone. As usual, it's hard to say exactly what is causing this...
FinTech News
