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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.

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This week’s podcast episode: Using financial technology to improve consumers’ financial health, a conversation with special guest Leigh Phillips, President and CEO of SaverLife and Chair of the CFPB’s Consumer Advisory Board (CAB)

CFPB Monitor

SaverLife is a national non-profit sponsored by some of the nation’s leading financial institutions that uses financial technology to improve the financial health of low- to-moderate income consumers by incentivizing savings through prizes, rewards, expert resources, and gameplay.

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Today In Payments Around The World: UK To Make Firms Pay Small Businesses In 30 Days; Singapore’s Grab Considers US IPO

PYMNTS

Grab, the Singapore-based financial technology firm, is reportedly considering a U.S. IMF Head Calls For Resources To Help Indebted Countries. Britain’s government is planning to shore up the Prompt Payment Code to make it so that 95 percent of invoices for SMBs need to be paid within 30 days.

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Independent Panel To Review UK’s FinTech Sector 

PYMNTS

A panel established to grow the United Kingdom’s (UK) financial technology (FinTech) sector plans a review of the industry to identify opportunities for growth, the government announced Tuesday (July 21). The review is expected to be completed early next year.

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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction

PYMNTS

In an announcement made last week, the community bank said the integration will support customers that seek “new functionality” from their banking service providers, according to Chief Information Officer DJ Seeterlin, who added that customers “need financial technology tools that align with their personal and business needs.”

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Hypur To Offer Digital Payments For Cannabis Firms With CU Partnership

PYMNTS

Cannabis operations that partnered with Hypur to leverage the company’s financial technology can tap into the digital HypurPay app to access a safer and more convenient payment environment. Hypur will bolster Salal’s network of cannabis retailers and wholesalers via different digital payment offerings.

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MineralTree Expands Integrations For Remote AP Departments

PYMNTS

The new functionality brings in hundreds of enterprise resource planning (ERP) and accounting software options that can integrate with the AP automation solution of MineralTree. Middle-market businesses are absolutely critical to the U.S.

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