Tlol Visa Highlights Contactless Payments At New York Fashion Week
American Express AmEx is said to be cooperating with the investigation by the U.S. Department of Justice DoJ into its business card sales practices, according to a Wall Street Journal report.A regulatory filing on Friday Feb. 12 indi
stanley usa cated that AmEx said that it received a grand jury subpoena in Janu
stanley cup canada ary from the U.S. Attorneys Office for the Eastern District of New York over its sales practices for its small business credit cards. The filing also indicated that AmEx got a Civil Investigative Demand CID from the Consumer Financial Protection Bureau CFPB asking for sales practices data relating to consumers.According to the regulatory filing, American Express first responded in May to a regulatory review led by the Office of the Comptroller of the Currency and the DOJs civil division. It said the review was associated with historical sales practices relating to certain small business card sales. Federal investigators from the Treasury Department, Federal Deposit Insurance Corp. and Federal Reserve are all probing AmEx card sales as to whether the company extended aggressive and misleading sales tactics to advance cards to business owners, the WSJ reported.According to the report, AmEx said it had conducted an internal review of certain sal
stanley termosky es from 2015 and 2016 and had taken appropriate disciplinary and remedial actions, including voluntarily providing remediation to certain current and former customers. The company also said in the filing that the company was co Vhwb This Week in B2B Innovation: Capturing Opportunity Across an Atypical Landscape
Creditas Solu莽玫es Financeiras, a Brazilian FinTech firm focused on low-interest secured consumer loans, has obtained $19 million in funding that will allow it to provide borrowers with funds for one-fourth of what they pay to domestic lenders.This new round of Series B funding comes amid a boom in local FinTech financing, according to聽Reuters. Two months ago, Redpoint and other firms dropped $80 million into Nubank, whose platform charges a fraction of the 400 percent-plus average interest rate
stanley fr that card loans carry in Brazil.The S茫o Paulo-based Creditas helps consumers with heavy debt substitute unsecured loans with
stanley butelka funds that charge one-fourth to one-half of what banks and rival local FinTechs do through its use of innovative credit scoring systems and borrowers assets. It originates loans using the borrowers home or automobile as collateral and secures loans from investors or through partnerships with other traditional financial institutions.This round of funding for Creditas drew investors that included the World Banks International Finance Corp., Naspers Ltd.s FinTech arm and Brazilian venture capital firm Redpoint Ventures. Redpoint had already taken part in a $7.5 million round for Creditas in June.This latest round of financing will allow the company to develop new distribution channels and cut the minimum in
stanley mugs terest rate on secured loans to a monthly 1.99 percent from 2.15 percent previously. The average consumer lending rate in Brazil now stands at about 7 percent. Wi
