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Weekly Wrap: Varo gets FDIC approval, as Curve prepares for US launch

Bank Innovation

In this episode, editors discuss the following news developments: The implications of banking startup Varo’s FDIC approval; How U.K. card startup Curve opened a New York City office in advance of its U.S. Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb.

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Leonard Chanin to serve as part-time CFPB Acting Deputy Director

CFPB Monitor

Leonard is currently serving as Deputy to FDIC Chairman Jelena McWilliams and will continue in that position while serving as CFPB Acting Deputy Director. According to Bloomberg Law , beginning on March 9, Leonard Chanin will serve as part-time CFPB Acting Deputy Director.

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PLI 25th Annual Consumer Financial Services Institute – 25% discount available

CFPB Monitor

The leadership and priorities of the CFPB, OCC, FDIC, and FTC have changed under the Trump Administration. Former CFPB Director Richard Cordray will deliver a keynote address at the New York City and Chicago programs. The second panel will feature OCC and FDIC representatives. I will co-moderate both.

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Could COVID-19 Cause A Banking And Commercial Real Estate Crisis?

PYMNTS

Vijay Dandapani, chief executive of the Hotel Association of New York City, told the FT that if only half of the city’s 640 hotels survive, that will be a “great” outcome. retail sector hit an average of 20 percent in the second quarter, up from 9 percent when 2020 began. More Than Just Hotels Are in Trouble.