Private digital currencies' global reach makes policy responses challenging, but emerging markets do not lack choices.
The Fed looks to supervise banks' involvement in crypto and fintech. Innovation is the focus but their approach will determine if successful.
Look beyond the initial aftereffects of recent market shocks and there are plenty of positive developments happening in blockchain-related industries, the leader of a global investment firm believes.
The Federal Reserve has announced it will hold an industry conference on financial innovation, titled, "Financial Innovation: Online Lending to Households and Small Businesses"; the event will take place on December 2 and will involve academics, industry participants and policymakers; discussions will focus on academic research and the evolving online lending industry. Source
Patrick McHenry is one of the most proactive advocates for fintech in Congress; at LendIt USA 2017 he provided his insight from Congress on fintech and also spoke with Lend Academy in their podcast; his views are framing many of Washington D.C.'s legislative debates and his legislation, the Financial Services Innovation Act of 2016 (HR 6118), could be a significant factor helping to support future fintech innovation in the US. Source
Representative Patrick McHenry says Dodd-Frank reform is not likely to make it to the House of Representatives until June or July; he is confident in major changes for the regulation from the House of Representatives however he foresees opposition from Senate democrats; in an interview with WSJ Pro Financial Regulation he also provided his insight on a range of regulatory aspects which could be integrated into legislation in various ways. Source
The economic, reputational, and strategic implications of enforcement action can long outlive the action itself.
The American Fintech Council Policy Summit in Washington DC brought together fintech, banking and government leaders for a full day of learning and networking.
The US marketplace lending industry has matured with a number of self-regulating industry associations however the evolution of the industry and its integration into mainstream financial services has brought about increased regulatory attention which was one prominent topic for discussion at LendIt USA; HousingWire details the keynote speeches from Thomas Curry and Patrick McHenry also discussing insight from Amias Gerety; Richard Cordray from the Consumer Financial Protection Bureau was also a featured keynote speaker discussing government regulatory efforts pertaining to the industry. Source
I am a big fan of earned wage access. When I last wrote about it in 2019, I made the...