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Deutsche Boerse goes live with spot crypto trading | Meta is building a giant AI model for videos | X could soon receive payment licenses in NY & CA

Bussman Advisory

The latest edition of the FinTech Ecosystem Newsletter is here : Join our Community Join our community of 52,000+ subscribers and stay informed on the latest trends and news in the FinTech & AI world with the weekly newsletter provided by Bussmann Advisory. More information on www.bussmannadvisory.com.

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Top News in Payments: Uber Halts Upfront Pricing in CA; Amex Cleared To Operate In China

PYMNTS

Hundreds Of FinTechs Move From UK To EU Ahead Of Brexit. With Brexit approaching, one question worth posing is: What will happen to FinTech? Specifically, what will happen to London’s standing as a FinTech hub?

CA 132
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FinTech Could Be Hurt By Fight Between OCC And States

PYMNTS

The FinTech industry’s future could depend on the outcome of a fight between the Office of the Comptroller of the Currency (OCC) and states, according to a report in TechCrunch. The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices.

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CA and NY governors propose expansion of state consumer financial protection regimes

CFPB Monitor

The DFPI’s activities would include: Offering services to empower and educate consumers, particularly older Americans, students, military service members, and recent immigrants.

CA 78
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Looking Beyond The Card To Drive Commercial Adoption

PYMNTS

Ro Khanna (D-CA) and Anthony Gonzalez (R-OH). Together with expense management FinTech Emburse, Mastercard and Amazon Business will enable joint corporate customers to automate the capture and management of spend data through enhanced functionality like automated receipt generation and expense itemization.

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CA Dept. of Financial Protection and Innovation signs MOUs with five earned wage access companies

CFPB Monitor

The DFPI indicated in its announcement that it believes the MOUs “to be the first agreements of their kind between the fintechs and a state regulator.”. The CCFPL authorizes the DFPI to prescribe regulations requiring any covered person to register with the DFPI.

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Adam Wright joins CA DFPI’s Office of Financial Technology Innovation; meetings available during weekly office hours

CFPB Monitor

AB-1864, which took effect on January 1, 2021 and significantly expanded the powers of the California Department of Financial Protection and Innovation, required the DFPI to establish a “Financial Technology Innovation Office.”.