Equifax Data Breach: What to Do Next September 14, 2017 Industry, Preparation, Protection, Regulation Sean Collins There is no doubt that you’ve heard of the massive data breach at Equifax, between mid-May and July 2017, that was made public last week. In light of that, we’ve consulted with our team of financial and credit experts to make it very clear what is at risk and how you should respond. What happened Keep Reading
The Fintech Industry Won’t Save You July 25, 2017 Industry, Regulation, Savings, Spending Ben Luthi The Fintech Industry Won’t Save You As the fintech industry has expanded, hundreds of companies have been clamoring to help consumers manage their money. Millennials are usually the target market. But while fintech companies have gotten good at selling financial products, that doesn’t mean they’re actually helping people. According to the National Foundation for Credit Keep Reading
The Current State of U.S. Financial Literacy June 13, 2017 Industry, Preparation, Regulation Priya Iyer Across the U.S., we celebrate financial literacy and awareness during specific times of the year. Last month, for example was National Financial Literacy Month. But many advocates, the government, and even research studies show that one-off or annual pushes for financial education are not enough. Richard Corday, Director of the Consumer Financial Protection Bureau (CFPB) Keep Reading
Series: How Your Credit Report Information Is Being Used May 31, 2017 Cinch, Industry, Regulation Priya Iyer In my last two posts, I’ve explored a lot of what you might want to know about credit reports, credit scores, and what all of this means for you as a consumer. Now, for the grand finale of posts on credit reports (exciting stuff, right?)! There are an ever-increasing number of ways your credit report Keep Reading
A Trump-date. May 10, 2017 Industry, Regulation Priya Iyer When Trump was inaugurated in January, I saw article after article on the potentially crippling changes the new administration might make that would affect the FinTech industry. After reading what the experts had to say, I wrote about the potential of the administration to weaken or dismantle several regulations. Since then, I’ve mostly heard crickets Keep Reading
Pioneering the Use of Behavioral Economics to Help Reduce Your Debt March 22, 2017 Cinch, Credit Cards, Industry, Regulation Priya Iyer Did you know that 33% of Americans reported that they were contacted about debt collection last year, and of these people almost 40% were contacted at least 4 times a week by a debt collection agency? This is just the tip of the iceberg when it comes to the loosely regulated, often predatory nature of Keep Reading
Forget Silicon Valley: Why Boston Is the Ideal Home for FinTech Startups March 15, 2017 Cinch, Industry, Regulation Priya Iyer If you’re thinking of starting a financial technology startup, you might ask yourself where to hub the company? You’ve probably read through the exhaustive rankings from Forbes to U.S. News on which city has the best startup environment. Now you’re suffering from information overload. We’re here to urge you to look no further, and seriously Keep Reading
Why Is Cinch Based in Boston? March 14, 2017 Cinch, Industry, Mindful Musings, Regulation Sean Collins People do ask if (and sometimes when!) we plan to light out for Silicon Valley like so many other Boston-founded startups. It sort of astounds me, but in my case, once they learn I grew up in SF and the Bay Area (and went to college there) they sort of assume I will make my Keep Reading
5 Troubling Facts About Lead Generation Companies in the Consumer Credit Space March 9, 2017 Cinch, Industry, Regulation Priya Iyer Less than a decade ago, lead generation sites preyed upon customers with financial difficulties by offering them subprime loans. This led to the 2008 U.S. financial meltdown. Fast forward to today… lead generation is a $1.7 billion industry in the U.S. Although “lead-gen” companies, as they’re commonly referred to, are not inherently deceptive, several have been Keep Reading
Regulation Crackdown on Deceptive Advertising; FinTech and Beyond February 28, 2017 Cinch, Industry, Regulation Priya Iyer Marketing experts estimate that Americans take in between 4,000 and 10,000 digital and traditional ads each day. That’s a lot of ads! Along with this constant barrage of information comes a series of ethical issues around deceptive advertising, consumer data storage and the extent to which lead aggregators are liable. The Federal Trade Commission’s (FTC) Keep Reading
