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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

As for easing the path toward financial innovation, there’d always been some consideration of seeking a national banking charter, noted Cagney, especially as the company began building blockchain and blockchain applications over the past few years. Figure, said Cagney, can offer some of its products in New Yok — but not in, say, Illinois.

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California lawmakers urge FDIC to rein in bank partnerships

CFPB Monitor

Four Democratic members of the California state legislature recently sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to originate high-cost installment loans.

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War-Gaming The Future Of Small-Dollar Lending

PYMNTS

The CFPB was a few weeks away from releasing new draft regulations, and the money was on regs that would by and large neuter the industry. This year, at Innovation Project 2017 , we’ve assembled an all-star team to handicap the future of a multi-billion industry that provides alt-lending services to roughly 6 percent of American adults.

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