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FHFA announces Office of Financial Technology

CFPB Monitor

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

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What happened to the bitcoin bubble?

Chris Skinner

Now that it has burst, the interview seems quite prescient so, here it is … UBS interview with Chris Skinner Cryptocurrencies – digital currencies based on encryption – are in the midst of a bubble, but that should not overshadow the genuinely transformative change that is taking place within the financial services industry.

Bitcoin 318
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ACI Worldwide, Mastercard Join Together To Ramp Up Real-Time Payments

PYMNTS

With more countries and regions embarking on the modernization of their payments systems to capitalize on real-time technologies and customer demand, the market opportunity is significant,” said Paul Stoddart , Mastercard president of new payment platforms. Payments giant Mastercard, based in Purchase, N.Y.,

Payments 248
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Bitcoin Drops Below $6,000

PYMNTS

The market capitalization of bitcoin, the leading cryptocurrency, declined to under $100 billion for the first time since October of 2017 amid a steep sell-off in digital tokens Wednesday (November 14). A big sell-off in cryptocurrency that started Wednesday continued on Thursday (November 15) in Asia.

Bitcoin 134
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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). In May, Brex closed a $150 million funding round led by previous investor DST and new investor Lone Pine Capital, Brex said.

FDIC 166
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Bitcoin Daily: Tether Beats Out Bitcoin In Trading Volume; EOS Receives $24M Fine From SEC

PYMNTS

Believe it or not, bitcoin is no longer the most used cryptocurrency, with data from CoinMarketCap.com revealing that the token with the highest daily and monthly trading volume is Tether. Some of the concerning potential patters of trading in the market may start to fall away.”.

Bitcoin 141
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SMB Challenger Banks A Hot Spot With VCs

PYMNTS

challenger banking market saw a flurry of venture capital (VC) activity this week, as FinTech firms aim to disrupt small business (SMB) financial services (FinServ). Compliance startup Chainalysis works with law enforcement officials and financial institutions (FIs) to ensure that their cryptocurrency operations are within regulations.

Capital 122