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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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NY Fed Creates FinTech Advisory Group

PYMNTS

The Federal Reserve Bank of New York has announced the creation of the Fintech Advisory Group to bridge the communication gap between the FinTech industry and consumer organizations, the organization said in a release. The group plans to hold its first meeting on April 1. Members will participate on a rotational basis.”.

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Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards

PYMNTS

In the wake of the collapse of its initial public offering of stock (IPO), China’s Ant Group is scaling back the borrowing limits for some of the young users of Huabei. That arm of the financial technology (FinTech) giant offers a virtual credit card. Chinese regulators are looking to strengthen the rules for FinTechs.

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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 ).

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Fintechs seek US government funds to help make business loans

Bank Innovation

Financial-technology firms including PayPal Holdings Inc. Industry group Financial Innovation Now urged Congress in a letter to provide capital to online lenders including PayPal and Square Inc., government funding. and to permit the firms to […].

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More Bank-Fintech Partnerships Emerge as Groups Embrace Digital

Banking Exchange

Customers Bank, Capital Bank and Community 1st Credit Union among the latest to embrace financial technology Technology Financial Trends Payments Feature3 Fintech Feature Lines of Business Tech Management Mobile Online Cards Blockchain PPP Covid19 Community Banking.

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Standard Chartered Establishes Investment Unit for Fintech

Bank Innovation

London bank Standard Chartered has created an investment unit for financial technologies and innovation, the bank reported today. Under the heading ‘SC Ventures,’ the unit will focus on the bank’s existing “minority investments in fintech,” as reported by Reuters, while also searching for new fintech investments.

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