Truth.Fi will offer ETFs, cryptocurrencies and crypto-related securities.

Banks and credit unions also extended financial relief to Californians affected by the fires, which have killed 28 people and burned thousands of homes.

The Consumer Financial Protection Bureau issued separate policy statements on "sandbox approvals" and no-action letters for fintechs — measures whose longevity is questionable with the incoming Trump administration.

The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

The pro-business, deregulation-friendly administration is taking office at a time when economic conditions are improving for fintechs and their investors.

Esusu, Foyer, Divvy Homes and Tomo Mortgage are among the fintechs trying to give first-time homebuyers a break, alongside community development financial institutions like Southern Bancorp. 

The strategic investment in the shared appreciation platform comes after capital raises at similar businesses last month.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R.I., asks that the Consumer Financial Protection Bureau more closely monitor buy now/pay later companies.

The new round of growth capital, led by investor 8VC, will go toward advancing the San Francisco company's AI capabilities.

First Electronic Bank is using technology from Spring Labs to analyze its fintech partners' customer communications and identify problems.

Industry participants say more direct communication between fintechs and federal regulators could help avoid bad outcomes. Some underused legal tools could help bridge the gap.

While the federal banking agencies are not changing any current rules, they issued a joint statement Thursday cautioning banks about risks in third-party deposit partnerships. They are also seeking public input on bank-fintech partnerships more generally.

Acting Comptroller of the Currency Michael Hsu said the OCC will review its 2020 interpretation of preemption under the Dodd-Frank Act and explore more direct engagement, tailored federal regulation and supervision of nonbank fintechs.

The partnership between personal finance platform Esusu and the National Rental Home Council has several of the trade group's members delivering payment data. They say that has helped result in over 85,000 originations across lending segments.

Rep. French Hill, the No. 2 Republican on the House Financial Services Committee, promised bankers Tuesday that he will continue to push back against Biden administration regulators, especially on bank-fintech partnerships and digital assets.

Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.

The $12.1 billion-asset DCU launched the loan platform in 2022, and has seen volume jump by close to $600 million from when talks began in 2019 to last year.

Dean Wheeler will drive the firm's growth push in the U.S. and follows the London firm promoting Serenity Morley to COO, to drive growth globally.