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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. It also solicits feedback on how to maximize stakeholder engagement.

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The lies spread by bankers about cryptocurrencies

Chris Skinner

I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.

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BOE Head Carney: FinTech Won’t Make Central Banks Obsolete

PYMNTS

The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. The fact is that the financial system … is the most heavily regulated part of the economy. He said that regulation is an important aspect of the field.

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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Building The (Retail) Use Cases.

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Financial technology needs rules of engagement

Payments Source

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.

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Ballard Spahr creates cross-disciplinary fintech team

CFPB Monitor

As readers of our blog know, our consumer financial services group has been at the forefront of legal developments involving new technologies. Our Banking and Financial Services and Retail industry groups add further depth and specialized knowledge.

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France’s Central Bank Latest To Ponder A Digital Currency

PYMNTS

It started a FinTech-targeted Innovation Hub this month, saying that the hub should “foster international collaboration among central banks on innovative financial technology.” . The president of the European Union is less on board, saying coins should be regulated, but that he didn’t want to make them.