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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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Fintech Deals to Watch: Back to School

Gonzobanker

Lending Tech With Almost Steady Grades (Even With Rough Semesters). Mortgage services provider ICE acquired mortgage services provider Black Knight bringing together the two largest providers in the space.

Fintech 195
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Fintech Deals to Watch: Fall Festivities

Gonzobanker

Treasury management provider Dragonfly Financial Technologies launched independently from an ACI Worldwide sale. Core: Core-n Mazes and Hayrides FIS acquired embedded finance provider Bond Financial Technologies and announced plans to spin off merchant solutions (to be named Worldpay ). for automated underwriting.

Fintech 103
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Japan’s Mizuho Launching FinTech Venture

PYMNTS

Mizuho Financial Group , the Japanese financial company, is gearing up to launch a venture in June to create new businesses with FinTech. If we try to pursue business innovation within the bank, we have to ask around for permission from people in risk management, compliance and others.

Fintech 100
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FTC sends 2016 ECOA report to CFPB

CFPB Monitor

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. In June 2016, the FTC launched a series of forums exploring emerging financial technology and its implications for consumers. Interagency fair lending task force.

Report 68
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SMB Challenger Banks A Hot Spot With VCs

PYMNTS

Compliance startup Chainalysis works with law enforcement officials and financial institutions (FIs) to ensure that their cryptocurrency operations are within regulations. Open Financial Technologies. India’s Open Financial Technologies raised $4.6 Chainalysis. OakNorth operates in the U.K.

Capital 122
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LendingClub Settles With SEC, DOJ

PYMNTS

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. lending marketplace. Attorney Alex Tse. “We The Response.

Lending 135