CFPB Monitor

NOVEMBER 16, 2020

On December 9-10, 2020, the Conference on Consumer Finance Law and the Program on Financial Regulation & Technology at George Mason University’s Scalia Law School is sponsoring a webinar that will examine emerging issues in the areas of fintech and consumer finance. The full webinar agenda is available here.

Fintech 78

Fintech social media Big Data Conference 78

PYMNTS

NOVEMBER 24, 2020

The stars of financial services in 2021 will have something to do with credit,” i2c CEO Amir Wain told Karen Webster, saying the days of the simple checking or demand draft accounts (DDA) are over. You can’t be a star with the DDA in 2021,” he added. All About Mobile.

Mobile 310

Mobile social media Fintech Innovation 310

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

MARCH 26, 2020

FinTech Veteran Dan Henry Tapped To Lead Green Dot. Dan Henry will step in as the new president and CEO of branchless bank and FinTech Green Dot. With the postponement of the Olympics until at least summer of 2021, there is likely to be a race to recoup lost costs — for Japan, the city of Tokyo, sponsors and the athletes.

Fintech 140

Fintech Payments America Survey 140

PYMNTS

OCTOBER 22, 2020

The discussion was part of the ongoing B2B Payments 2021 PYMNTS TV series. That trend has pushed FinTechs and FIs to craft more direct financial interactions with consumers. It's a real challenge to make money and satisfy the regulators. Optimizing B2B payments remains a strong growth opportunity for banks and FinTechs.

Fintech 169

Fintech Capital Innovation Data 169

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Financial condition and competitive market environment and client base. Information security program and information systems.

Community Bank 78

Community Bank Community Fintech Company 78

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

FICO

DECEMBER 23, 2020

The global pandemic has driven a dramatic change in consumer behavior, not least an exponential rise in the use of digital and mobile channels for banking and financial services, increased competition from fintechs, and the rise of open banking. Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1.

Compliance 52

Compliance Regulation Data Risk Management 52

PYMNTS

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. This steady march toward online banking tools has played a key role in how Brazil’s regulators are structuring its open banking rules.

America 165

America Regulation Regional Tools 165

PYMNTS

DECEMBER 17, 2020

UK FinTech GoCardless Raises $95 Million Led By Bain. FinTech GoCardless has raised $95 million in a Series F funding round led by Bain Capital Ventures. Fiserv To Acquire FinTech Ondot Systems. The FinTech Fiserv has signed a deal to acquire Ondot Systems. The financial terms of the agreement were not disclosed.

Massachusetts 147

Massachusetts Bitcoin Payments System 147

FICO

DECEMBER 1, 2020

Unfortunately, 2021 will bring the after-effects, as credit grantors, consumers and governments try to work through a flood of uncollectable debt. Regulators will want more tolerance, but many credit grantors will be unable to afford it. It’s not just regulators who will push for tolerance, the government will as well.

Taxes 76

Taxes Lending Capital Regulation 76

PYMNTS

APRIL 30, 2018

billion by 2021. billion in 2021 and on the Internet of Things at 14 percent a year from $772.5 trillion in 2021. Supporters say that’s not a bad thing, since investors tend to value ad platforms like Google over regulated banks. Most of that spend will be concentrated in the U.S., billion growing to $120.7 And to learn.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Any FinTech disruptor, when it becomes so big, represents systemic risk,” he told Webster. Reuters quoted central bank Vice Gov.

US 168

US Regulation Groups System 168

CFPB Monitor

MAY 24, 2021

The Group was ranked in the highest tier nationally in Compliance and Litigation, the two categories previously used by Chambers USA for Financial Services Regulation: Consumer Finance. This year, Chambers USA added Enforcement & Investigations as a new category for Financial Services Regulation: Consumer Finance.

National 148

National Groups Regulation Compliance 148

FICO

AUGUST 19, 2022

Tackling the Fintech Threat: A Guide for Banks and Credit Unions. What financial institutions need to compete with fintech threat disrupters. As FinTech funding rises to new record levels – $131.5 Taking the FinTech Threat Seriously: What Should Banks Be Doing to Compete? Thu, 12/19/2019 - 16:29. by Darryl Knopp.

Fintech 52

Fintech Millennials Lending Tools 52

PYMNTS

JANUARY 25, 2021

"The new technologies and payments rails that connect consumers and merchants provide a unique opportunity to transform the prospects for small businesses everywhere, but also present huge challenges that we must lean into, not shrink from," notes Hughes in " A Look Forward: What Executives Wish for America and the World in 2021.

Industry 155

Industry Payments Fraud How To 155

PYMNTS

JANUARY 20, 2021

Generally speaking, that data sharing paves the way for a streamlined banking experience, especially over online and mobile conduits, via regulated providers. In terms of scale, openbanking.org reports that 300 FinTechs and providers have joined the ecosystem, and more than 2.5 Dan Weaver, open banking expert at Equifax U.K.,

Data 188

Data Innovation Fintech Regulation 188

Gonzobanker

FEBRUARY 23, 2022

In this emerging landscape, financial institutions, often community banks, frequently “rent” their charter to financial technology firms (fintechs) that serve a specific consumer group as a means to grow non-interest income. While customer relationships are being redefined by fintechs, there will always be a place for community banking.

Community Bank 117

Community Bank Strategy Risk Management Fintech 117

PYMNTS

FEBRUARY 20, 2020

Financial Stability Board (FSB) Chair Randal Quarles has warned global financial regulators that they must accelerate the creation of a framework for cryptocurrency and other forms of digital money, Reuters reported on Wednesday (Feb. The daily calculated bank-to-bank interest rate is a benchmark for trillions of U.S.

cryptocurrency 194

cryptocurrency Meeting Conference Regional 194

CFPB Monitor

MAY 19, 2022

The Department alleges that 100% of the loans to Connecticut residents originated on the Platform from June 2018 to August 2021 either contained a Lender Tip or a Solo Tip. Consumers are encouraged to offer a Lender Tip in an amount up to 12% of the loan amount and a SoLo Tip of up to 9% of the loan amount.

Connecticut 78

Connecticut Operations Fintech Regulation 78

Lex Sokolin

FEBRUARY 18, 2021

We are barely into 2021, and 144 SPACs have already IPOed this year, compared to 248 of last year. The average size is about $300 million, and quite a few are focusing on Fintech and financial services. despite creating the same outcome of a regulated public company. billion in 2021 Q1. Tick-tock, it’s SPAC o’clock.

Capital 52

Capital Fintech US Lending 52

Lex Sokolin

FEBRUARY 18, 2021

We are barely into 2021, and 144 SPACs have already IPOed this year, compared to 248 of last year. The average size is about $300 million, and quite a few are focusing on Fintech and financial services. despite creating the same outcome of a regulated public company. billion in 2021 Q1. Tick-tock, it’s SPAC o’clock.

Capital 52

Capital Fintech US Lending 52

PYMNTS

DECEMBER 29, 2020

“Though the industry moved to enable interoperability of mobile wallets in 2018, this is limited to only P2P payments, and is yet to be expanded to both merchant and agent interoperability and even to work seamlessly at P2P,” according to the draft of the Kenya National Payments System 2021-2025 report.

National 160

National Policies Mobile Payments 160

PYMNTS

FEBRUARY 3, 2020

This prospective growth can largely be attributed to the Monetary Authority of Singapore (MAS), the region’s main regulator, which announced in June 2018 that it would grant five digital banking licenses to third-party companies. Licenses are not meant as free passes into financial domination in Singapore, after all.

Digital Banking 185

Digital Banking Innovation Maine Regulation 185

Fintech Labs Insights

MARCH 15, 2024

In the fintech space, only Fintech Meetup , launched in 2021, has reached critical mass this decade. Last week’s event in Las Vegas attracted a self-reported 4,000 attendees and was the talk of the fintech pods and Substacks the last few weeks. The pandemic slowed the introduction of new events.

Conference 15

Conference Las Vegas Fintech Case Study 15

American Banker

JANUARY 4, 2021

With the new Congress sworn in, trade associations are already pushing their legislative wish lists, including more regulatory oversight of fintechs and protecting the industry's tax exemption.

Groups 58

Groups Taxes Fintech Industry 58

PYMNTS

DECEMBER 24, 2020

Said Allaire of the bid to get digital currencies more front and center: “Regulators are getting their arms around them … the digital asset market is now moving, more and more, into the mainstream of finance, FinTech payments and banking world.”. And, of course, the crypto landscape extends well beyond bitcoin.

cryptocurrency 258

cryptocurrency Bitcoin Course Boston 258

PYMNTS

MARCH 11, 2020

With the new API, Carefree has plans to aid more than 1,000 businesses to automate loan disbursals by 2021. Now, new FinTech players are penetrating the market to supplement legacy leaders and drive innovation, enhancing flexibility and fostering technology adoption to stimulate healthy competition in the banking segment.

Lending 130

Lending User Experience Capital Innovation 130

PYMNTS

OCTOBER 22, 2020

Starting in 2021, users will be able to spend their crypto caches with any of the 26 million merchants currently accepting PayPal. Investors Say FinTech Valuations Are High, But Not Overheated. Clothing Reseller ThredUp Files For IPO. Report: Overcoming Cross-Border Invoice Complexities.

cryptocurrency 142

cryptocurrency Payments Bitcoin Capital 142

PYMNTS

NOVEMBER 24, 2016

The company revealed its “Global Payment Cards Data and Forecasts to 2021” report Wednesday (Nov. According to the report, regulations, combined with FinTech innovation, are accelerating payment card adoption in these markets. Financial reform led by local regulators is playing a key role in the trend, RBR concluded.

Marketing 100

Marketing Cards Regulation Regional 100

CFPB Monitor

JANUARY 19, 2022

The lawsuit represented the CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies or to uninsured deposit-taking fintechs. Consolidated supervision will help ensure risks do not build outside of the sight and reach of federal regulators.

Technology 78

Technology National FDIC Fintech 78

CFPB Monitor

APRIL 26, 2021

Cross-motions for summary judgment have been filed in that case and oral argument on the motions is scheduled for May 7, 2021. The rule also exceeds the FDIC’s authority because the FDIC can only regulate FDIC-insured banks and the rule regulates non-banks by granting them the power to enforce interest rate terms that violate state law.

FDIC 78

FDIC District of Columbia California Regulation 78

PYMNTS

JULY 6, 2020

Morgan Stanley expected the payment volume to grow 70 percent in 2020 and 69 percent in 2021 as more people use the platform, Bloomberg reported.

Online 150

Online America Groups Analysis 150

CFPB Monitor

JANUARY 12, 2021

The California Consumer Financial Protection Law (CCFPL) became effective on January 1, 2021. The CCFPL gives the California Department of Financial Protection and Innovation (DFPI) (the new name given to the state’s Department of Business Oversight) broad jurisdiction and sweeping new authorities that closely resemble those of the CFPB.

Exercises 127

Exercises California Innovation Financial Technology 127

Jeff For Banks

APRIL 27, 2023

Prior to fintech becoming a buzzword, bankers have been solving problems. Problems regarding regulation, risk, operations, and customer needs. Fintech is not something new, as I frequently cite when telling people I produced microfiche in the basement of my first bank. Do fintechers stock the checkout aisle of the supermarket?

Financial Technology 78

Financial Technology Strategy Fintech New York 78

CFPB Monitor

MAY 19, 2021

Although the FDIC is not required to promulgate regulations to implement section 18(a)(4), the FDIC nonetheless believes that the proposed rule, if adopted, would establish a more transparent process that will benefit all parties and would promote stability and confidence in FDIC deposit insurance and the nation’s financial system.”.

FDIC 88

FDIC Regulation Fintech Examples 88