10+ year veteran of banking, fintech, consumer lending. Independent fintech analyst & newsletter publisher.
More than a million government-approved loans ended up being canceled, including some that would have gone to people who needed the loans and applied just as they were told.
Revolut is just the latest example of a European fintech attempting to compete in the U.S.
President Nayib Bukele's bitcoin claims don't stack up.
At the end of the day, if they end up rejecting someone for being suspicious, they’re actually losing money. There were no incentives in place to encourage these companies to be particularly careful about how they went about funding these things.