The Consumer Financial Protection Bureau (CFPB) will appeal the court's unconstitutional ruling in the case of CFPB v. PHH in which PHH argued the CFPB's authoritative powers were too broad following enforcement actions that resulted in penalties primarily for referring consumers to mortgage insurers for compensation; the CFPB is requesting that the case be heard by all judges in the D.C. Circuit Court of Appeals rather than a panel of only three judges which provided the October ruling; if the verdict in the case is unchanged, the president will still be able to replace the CFPB director at his discretion; it's likely that Director Cordray could be replaced by President-Elect Donald Trump given his plans for Dodd-Frank. Source
The Federal Reserve has finally opened up the Main Street Lending Program for registration; this is the program targeted towards...
PeerIQ's weekly newsletter provides insight from a week in Washington, D.C. beginning with the SEC's Fintech Forum on Monday, November 14; Ram Ahluwalia participated as a panelist providing an industry perspective on the "Capital Formation" panel; newsletter also provides details on potential terms from the OCC in their fintech charter and highlights three bills affecting fintech; PeerIQ also discusses the effect of capital and liquidity rules on asset-backed securities from banks. Source
Colorado passed a law this week that could have a dramatic effect on the ability of fintech lenders to do business in the state.
The law deals with various aspects of crypto assets, including their issuance and operations of tokenized financial products.
The paper, published by the President's Working Group on Financial Markets, argued that regulation must address defi money laundering and terrorism financing to create broader investor protection.
I first wrote about the GAO report on p2p lending last year. The GAO have been doing an analysis of...
In a case that has taken three years to reach a verdict, XRP token is found not to be a security. But Ripple isn't completely off the hook.
Collectibles — call centers—rumored legislation... There have been many developments in Reg A and Reg crowdfunding, yet the same old challenges persist.
The Policy Summit from the American Fintech Council is brought to you in partnership with Fintech Nexus this year. It is the leading fintech regulatory event in the fall in Washington DC.