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Digital Car Insurer Metromile To Go Public Through Merger With INSU II

PYMNTS

The combined company, to be led by Metromile CEO Dan Preston , will have a pro forma market capitalization of approximately $1.3 Investors Social Capital, Hudson Structured Capital Management, Miller Value, Clearbridge and Mark Cuban have committed to investing $160 million through a private placement of INSU II Class A common shares.

Arizona 264
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NCR To Buy Payment Processing Firm JetPay

PYMNTS

22) that it will buy Pennsylvania-based JetPay , “a provider of end-to-end payment processing and human capital management solutions,” according to a statement. JetPay ’s services include card acceptance, processing, payroll, payroll tax filing, human capital management services and other financial transactions.

Payments 136
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OCC outlines risk plan as Northeastern loan growth doubles

Abrigo

” As a regulatory body, the OCC said it will focus on the following to address the increasing risk: • Execution of bank strategic plans and management of strategic risk. • Liquidity risk management and adequacy of contingency funding plans. • Vendor and third-party management processes. The OCC on Oct.

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Wells Fargo Taps Former Mastercard Exec To Run Merchant Services

PYMNTS

Taylor also previously worked at Capital One, Chase Manhattan Bank and JPMorgan. She graduated from Spelman College and earned her MBA from The Wharton School at the University of Pennsylvania. Her first day will be Aug. 26, and she will be based in New York City. Last month, Wells Fargo also added four new executives to its roster.

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New Unemployment Claims Down 48K To 709K

PYMNTS

31 were in Illinois (+20,377), Kentucky (+3,868), Pennsylvania (+3,768), Ohio (+3,766) and Kansas (+2,711), while the largest decreases were in Massachusetts (-8,470), Georgia (-6,442), New York (-5,883), Michigan (-3,067) and New Jersey (-2,500). The highest insured unemployment rates in the week ending Oct. and Alaska (6.1).

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Bain, Reverence near $3.5 Billion deal for Envestnet

BankInovation

Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.blo The buyout firms will pay $63.15 a share for Berwyn, Pennsylvania-based Envestnet, according to a statement on Thursday that confirmed an earlier Bloomberg News report.

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Community Banks Debut FinTech Alliance

PYMNTS

The group, to be known as Alloy Labs Alliance, according to a press release , is being managed by FinTech Forge. Among the names joining up are Citizens & Northern Bank (based in Pennsylvania), Inland Bank (Illinois) and Lincoln Savings Bank (Iowa). Guidelines From The UK.