Author: Kyle Burbank
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P2P Lending Platform SoLo Funds Responds to CFPB Lawsuit
After being sued by the Consumer Financial Protection Bureau (CFPB), the FinTech SoLo Funds has now issued a response. About the lawsuit and response: Recently, the CFPB announced that it was suing SoLo Funds, accusing the company of misleading customers about the true costs of loans obtained through the platform. This stems from SoLo’s model,…
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Virgin Red to Partner with Synchrony for New Rewards Credit Card
Virgin Red is readying a new co-branded credit card in partnership with Synchrony. About the partnership and new card program: This week, Virgin and Synchrony revealed plans to launch the Virgin Red Rewards World Elite Mastercard. The new card is currently expected to debut during the second half of this year. While details of the…
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Robinhood Introduces Lowered Margin Interest Rates
The popular investing platform Robinhood has announced new margin rates as it looks to attract advanced traders. About the changes: Robinhood is rolling out new, lowered margin rates. Now, the rates that customers pay will vary by their total margin balance, with these rates ranging from 5.7% to 6.75%. These tiers breakdown like this: This…
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FinTech Fallout: Lessons From the Synapse/Evolve Bank Dispute
Over the past several years that I’ve been covering FinTech, I’ve seen my fair share of apps shut down. Yet, I’ve never seen anything quite like the situation that’s playing out right now. As of this writing, several neobanking customers are unable to access their funds due to a dispute between Synapse and Evolve Bank.…
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Avianca Airlines Launches U.S. Credit Card Lineup with Cardless
Another foreign airline is launching rewards credit cards in the U.S. with the help of Cardless. About the cards: Avianca Airlines and Cardless have announced the arrival of two new cards: The Avianca LifeMiles American Express card and the Avianca LifeMiles American Express Elite card. First, the $99 annual fee Avianca LifeMiles card earns 2x LifeMiles…
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PrizePool Review: Still Worth It?
Note: PrizePool shut down in August 2024 after being acquired. Below is my review of the platform from earlier that year. Over the past few years, there have been a growing number of apps that have sought to make saving a bit more fun (or at least not as painfully boring). Among those is a…
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Accounting Infrastructure Startup Teal Raises $8 Million
A FinTech offering accounting infrastructure tools for vertical SaaS businesses to adopt has announced its seed round. About the round: Today, Teal announced that it had raised $8 million. The seed round was led by Torch Capital, while Basis Set Ventures, General Advance, and Dash Fund also participated. Additionally, execs from Plaid, Brex, Gusto, and others…
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Cardless Launches Two Qatar Airways Co-Branded Credit Cards
The FinTech startup Cardless is partnering with Qatar Airways to offer two new co-branded cards to the American market. About the cards: Recently, Cardless introduced its two latest rewards credit cards: The Qatar Airways Privilege Club Signature Card and the Qatar Airways Privilege Club Infinite Card. Starting with the Signature card, it earns 4x Avios…
