CrowdStrike bolsters enterprise cloud security with estimated $350m Bionic purchase

September 20, 2023

CrowdStrike announced plans to acquire Bionic, a trailblazing startup in the Application Security Posture Management (ASPM) sector.

Growth capital provider Clearbanc nets $70m in funding

November 19, 2018

Clearbanc, a provider of growth capital for online businesses, has netted $70m in its latest funding round.

Cybersecurity firm IONIX clinches $42m in landmark Series A financing

February 6, 2024

IONIX, a trailblazer in the Attack Surface Management (ASM) sphere, has proudly announced the completion of its Series A financing round, amassing a notable $42m.

fintech insurtech wealthtech regtech ai cybertech esg news

Paytm pockets $60m of $300m target

August 30, 2016

One97 Communications, which operates Indian m-commerce platform Paytm, has raised $60m as a first step towards reaching a targeted $300m for its new round of funding.

Navigating the complexities of the Consumer Financial Protection Bureau's (CFPB) Section 1071 rule is crucial for financial institutions across the United States. In an enlightening eBook, Fenergo's director of thought leadership, Tracy Moore, demystifies the essentials that businesses must grasp concerning this significant regulatory development. As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 1071 has stirred substantial debate and legal scrutiny. Despite ongoing litigation, it's pivotal for financial entities to gear up for the forthcoming adjustments in compliance, staffing, and the financial outlay tied to this mandate. What exactly is Section 1071? Introduced by the CFPB, 12 C.F.R. Part 1002 enacts Section 1071 of the Dodd-Frank Act, marking a stride towards augmented regulatory oversight in the realm of commercial lending, particularly within the small business segment. Effective from March 30, 2023, this rule is tailored to enhance data collection and reporting processes for lenders engaged in small business financing. A vast spectrum of financial establishments, including traditional banks, credit unions, online lenders, and others active in small business lending, falls under its purview. The specificities of the compliance requirements and reporting duties hinge on the scale and scope of an institution's small business lending activities. The enactment of this rule, encapsulated in an extensive 888-page document, necessitates a thorough understanding by financial institutions to align with its stipulations. Fenergo's resource offers a comprehensive exploration of the rule's principal elements, compliance strategies, and the broader context enveloping its introduction, spotlighting the controversies it has incited. As the financial sector stands on the cusp of these regulatory shifts, grasping the nuances of Section 1071 becomes imperative for navigating the future landscape of small business lending. Read the story here. Keep up with all the latest FinTech news here Copyright © 2024 FinTech Global

Navigating the compliance maze: A guide to the CFPB’s Section 1071 Rule

February 16, 2024

Navigating the complexities of the Consumer Financial Protection Bureau's (CFPB) Section 1071 rule is crucial for financial institutions across the United States.

Scalapay closes $48m investment continuing the recent surge of activity for buy now, pay...

February 1, 2021

Buy now and pay later solution provider Scalapay has scored $48m in a seed round of funding, continuing the recent surge of funding for these types of FinTechs.

MAPFRE insur_space launches third accelerator programme and is searching for promising InsurTech startups

July 8, 2020

MAPFRE is looking for InsurTech startups to join its third insur_space fast-track-to-market accelerator programme.

Fijoya, a platform specialising in tailored health and wellness services for employers, has revealed that it has secured an $8.3m funding round.

Fijoya raises $8.3m in seed funding to pioneer AI-powered platform

March 8, 2024

Fijoya, a platform specialising in tailored health and wellness services for employers, has revealed that it has secured an $8.3m funding round.

Align Commerce rebrands to Veem, closes $24m

March 9, 2017

Blockchain-based cross-border payments service provider Align Commerce has picked up $24m and rebranded to Veem. National Australia Bank (NAB) Ventures led the Series B round.