Small Business in the News: March 11-17, 2017

We know there is too much to keep up with when you’re a busy entrepreneur, so we compile small business news highlights each week for you to read only what matters most. Here is a summary of the top stories for March 11-17, 2017.

Study Reveals Fintech Segments Most Likely to see Growth

A new study identified the top growth areas for the fintech industry by looking at factors such as the percentage of total applications to the accelerator constituted by startups in different fintech segments. The top 3 growing segments were: cloud and core processing solutions; smarter, faster machines, and; shifting customer preferences. Read more...

The OCC Releases New Licensing Regulations for Fintech

Earlier this week the Office of the Comptroller of the Currency (OCC) published a draft supplement to its licensing manual, which contains existing regulations for chartering national banks. The draft rules give guidance on how fintech companies are expected to apply for national charters and clearly states they are subject to the same laws and regulations as traditional financial institutions. Read more...

Interest Rates Rise for Third Time Since Financial Crisis

The Fed raised interest rates for the third time in the last three months, an increase of between 0.75 - 1 percent. One economist believes the Fed will raise rates again in June, while the Fed stated that the "U.S. economy is moving along at a "moderate pace." Read more...

New Report Reveals How Regulations are Holding Back Fintech Industry

Business Intelligence released The US Fintech Regulation Report, which examines the regulatory landscape in the US and how it impacts the fintech industry. One key takeaway is the involvement of different players at the federal and state level, causing a major barrier to creating a coherent fintech policy. Read more...

New Scholarship Available for Veteran and Immigrant Entrepreneurs in Fintech

Accept Innovation announced the launch of a scholarship fund aimed at supporting immigrant and military veteran entrepreneurs who are creating fintech businesses. The new scholarship will award three individuals with a scholarship and resources to support the launch of their company and future growth. Entrepreneurs can submit their application starting October 1, 2017. Read more...

Lending Approval Rates Surge at Big Banks and Institutional Investors

Loan approval rates at big banks improved to new post-recession highs last month, according to one business lending index. Small business loan approval rates at big banks improved to 24.1% in February 2017, marking the seventh consecutive month of increases. In a year-to-year comparison, loan approval rates at big banks are up more than one percentage point. Read more...

 

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