The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.

Startup LoanSnap, a company funded in part by Virgin Group founder Richard Branson, has launched artificial intelligence that matches consumers with mortgages based on a complex analysis of their financial situation.

Startup Block66 is using blockchain to create a mortgage audit trail for fraud prevention purposes and also plans to enable trading of securities lenders can use to increase their liquidity.

Mick Mulvaney, the agency’s acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action.

The Wall Street giant's acquisition of the app maker Clarity Money is only one part of a long-term strategy to build a digital retail bank from the ground up.

As upstart companies mature, they face pressure to develop deeper relationships with their customers. That is leading some to offer to a wider range of products, including deposit accounts.

Upgrade's new product, unveiled Tuesday, is aimed at consumers who are expecting a big expense but may not need to borrow all the money at once. Unlike a home equity line of credit, the loan can be approved in minutes because there is no need for collateral or an appraisal process.

Even as many venture capitalists retreat from the online lending industry, Upstart Network is hoping to find investors still willing to bet on the business.