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The slow-moving dumpster fire that is the Synapse-Evolve meltdown has turned into a nightmare for many fintech customers. Synapse acted as a middleman between banks and fintechs, but there have been several disagreements between Synapse and these banks and fintechs. Consumers who assumed their money was safe are caught in the middle.

ChatGPT launched a year ago and the tech world will never be the same. The New York Times has an in-depth look at the impact of this revolutionary new product, focusing on big tech. It is interesting to me that one of the greatest tech launches of the past decade came not from a big tech company but from an AI startup that was not even seven years old and was set up as a non-profit research lab.

When the CFPB released their long-awaited proposal on open banking rules in October there was cautious optimism from both banking and fintech groups. Fast forward two and a half months, when everyone has had a chance to fully digest the 299-page proposed rulemaking, there are many suggestions for improvement. With the 60-day comment period ending this week, the CFPB has received over 11,000 comments.

Every quarter TransUnion releases its Credit Industry Insights Report. Their latest issue, released earlier this month, has some very interesting data.

By Isabelle Castro Margaroli McHenry’s “ugly baby” of a stablecoin bill is making some steps forward…albeit at a snail’s pace....