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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Included in that movement toward tech in capital markets, he said that could include blockchain and artificial intelligence (AI).

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Bitcoin Daily: US Regulators Join Global Financial Innovation Network; Colorado Explores Crypto Banking For Cannabis Firms

PYMNTS

The Commodity Futures Trading Commission ( CFTC ), Federal Deposit Insurance Corporation ( FDIC ), Office of the Comptroller of the Currency ( OCC ), and the Securities and Exchange Commission ( SEC ) have announced that they are joining the Global Financial Innovation Network ( GFIN ). Colorado’s bill does have support from some lawmakers.

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How the OCC is building Crypto America

Lex Sokolin

If you are a financial advisor or a trust company, you have missed out on $1 trillion in capital appreciation for your customers. They have not been distributed by fiduciaries to the mass market. Selling a diversified, cheap asset allocation as your core investment is a stable market equilibrium. It is logic. It is statistics.

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How the OCC is building Crypto America

Lex Sokolin

If you are a financial advisor or a trust company, you have missed out on $1 trillion in capital appreciation for your customers. They have not been distributed by fiduciaries to the mass market. Selling a diversified, cheap asset allocation as your core investment is a stable market equilibrium. It is logic. It is statistics.

America 52
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All Pain, No Gain

Independent Banker

Nearly one year after the Basel III capital rules went into effect, community bankers say that now recognize just how much more complex and how much more difficult this new set of capital rules will make life and business for them if they remain in place. Kim DeVore, chief financial officer for Jonah Bank of Wyoming, in Casper, Wyo.,

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The top-performing community banks of 2021

Independent Banker

Cumberland Security Bank, Inc. First Security Bank of Deer Lodge. Wyoming Bank & Trust. In order to compete as a small bank, we have been forced to keep higher-than-peer capital levels, so that our lending limit allows us to service local borrowers’ needs. Capital Community Bank. Allied First Bank, SB.

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Chime, Uniswap, and the future of finance could soon struggle

Lex Sokolin

To the extent it pipes people to banking product, that goes to a $500 million market capitalization public company that makes prepaid cards. It doesn’t have an ILC charter from Utah, or a crypto bank charter from Wyoming, or a straight-up bank charter like Varo, nor has it acquired any banks like Lending Club or Jiko.

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