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CFPB, CFTC Develop FinTech Regulatory Sandbox

PYMNTS

“We recognize that so often the case is with new technology, there is a needle you have to thread,” he added later. “If If you don’t give any regulation at all, it has the chance to go off the rails and completely burn itself out, which is where I was fearing bitcoin was going to a couple months ago if they haven’t already.

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Fintech needs more regulatory 'sandboxes'

Payments Source

Although there's often a tension between regulation and innovation, the sandbox concept can help startups, regulators and incumbent banks better navigate experimental financial technologies.

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Payday Lending’s Long, Strange Trip Through 2016

PYMNTS

There is neither a shortage of controversial topics in financial services or financial technology nor a shortage of subjects that tend to polarize people. These abuses need to be stopped, and cheerleaders for the new regulations note that stringent rules and enforcement are the best way to get there.

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Innovation versus consumer protection: emerging battle lines

CFPB Monitor

The announcement by the Office of Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire from the New York Department of Financial Services (DFS) and the Conference of State Bank Supervisors (CSBS). .