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

PYMNTS

Figure Pay, he said, with the ability to scan QR codes at checkout, is predicated on the concept of using a blockchain payment rail in lieu of interchange as the network is built out — and across a swath of merchants as large as Walmart and small as localized farmers’ markets (in a type of “barbell” approach) upon initial launch early next year.

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Blockchain Tracker: 88 Bales Of Cotton, Illinois State Gov. And Adoption

PYMNTS

to buyer Brighann Cotton Marketing Australia — and blockchain to prove that the goods were shipped, which all ultimately elevated transparency, security measures and tracking. At the state level, Illinois’ government has shown interest in delving into incorporating blockchain into how it does business.

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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

PYMNTS

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. The services are not currently registered as distinct entities, although they are provided to users in the nation. Facebook Supports Data-Portability Law.

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State Regulation, Conference of State Bank Supervisors, Financial Services, FinTech, Charles Clark, Washington State Department of Financial Institutions, License, Regulation, Bank of Indonesia, FinTech, Bitcoin, Cryptocurrency, News

PYMNTS

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. Can the states make licensing – of the money movement kind – any easier?

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Seven states and D.C. file lawsuit challenging FDIC “Madden fix” rule

CFPB Monitor

The FDIC’s rule purports to regulate activities of non-banks which are beyond the FDIC’s jurisdiction. We commented that the AGs’ similar attempt to dismiss Madden’s pricing impact on national banks and federal savings associations didn’t hold water and the same holds true with regard to Madden’s impact on FDIC-insured state banks.

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What Is Powering The Emerging Pawnaissance?

PYMNTS

Interest rates on pawn loans vary as they are regulated by states. Regulations require that pawnbrokers request proof of ownership before making a deal with a potential customer — but the less reputable players in the industry have a nasty habit of forgetting to ask. So what is driving the Pawnaissance?

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New York Department of Financial Services settles enforcement action with community bank over auto dealer fair lending allegations

CFPB Monitor

As a participant in the indirect auto finance market, Rhinebeck provides auto financing through auto dealers and has no direct interaction with consumers during the financing application process. to 2% range should be on notice that regulators may view that discretion as too permissive and an open door to potential discrimination.