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CFPB Rolls Out Innovation Regulator Network

PYMNTS

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

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Jack Ma Tells Chinese Regulators Ant Group Not A Bank

PYMNTS

Reuters writes that while Ant presents itself as a tech company, financial regulators have suggested it's under their umbrella. Ant, formed in 2004 as Alibaba's payments processor, also works to connect China's borrowers and lenders and can secure short-term loans in minutes. The aforementioned IPO will go for $34.4

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Alibaba’s Ant Group Produces Preparatory Regulatory Filing For Intended IPO

PYMNTS

The firm previously said the dual China listings back its goal to accelerate digitization of the country’s service industry and fuel domestic demand, while positioning the firm to create global markets with partners and grow investment in innovation as well as technology. Ant started talks with banks to bring back plans for an IPO in January.

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Swiss Prosecutors Charge Credit Suisse Over Alleged Drug Money Laundering

PYMNTS

But prosecutors said Credit Suisse had known about the deficiencies since around 2004. PYMNTS writes that banks need to work on compliance with anti-money laundering (AML) regulations, do better at record keeping and watch out for things like transactions that look fishy in some way.

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SWIFT: The Road To ISO 20022 Adoption

PYMNTS

Cross-border payments are a fragmented space with disparate standards, service levels, and compliance and reporting regulations varying from country to country. In 2004, financial institutions around the world had had enough.

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Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish

Jeff For Banks

Second, this can be accomplished only if the industry does not have too much influence over its regulators and if the regulators have the ability to hire, train, and retain qualified staff. Third, the regulators need adequate financial resources. My lesson learned to the regulators, read your past lessons learned.

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Sizzle/Fizzle: AI Soars, Toys R Us Sinks And Start-Ups Struggle

PYMNTS

B2B: The trillion dollar industry that gets overshadowed in innovation by consumer gee-wizardry tech, B2B is gaining more attention by the day. Across the pond, estimates Innovate Finance and Pitchbook, the B2B FinTech market has gotten nearly half of all FinTech funding in the European Union through the past year. Just sayin’.

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