Over $3 billion has been raised this year by initial coin offerings; Tech Crunch shares the current warnings that the market has received from regulators; some market participants report that they have spoken with with the SEC and it is expected that we will hear much more from regulators as we enter 2018. Source
The news that Facebook is building their own cryptocurrency has regulators nervous on many fronts including money laundering and know...
The FDIC and other regulators announced in a joint statement yesterday that banks should re-enter the business of making short...
The Community Reinvestment Act is a law that was first enacted in 1977; The Trump Administration is going to unveil plans to change the law which has some community groups concerned since the act historically prevented banks from just serving wealthy customers; some banks say that the rules haven’t kept up with technological innovation. Source
U.S. based financial regulators have told the FT that they are currently working on a cross agency approach to strengthen...
Leaders at the Federal Reserve, the OCC and the CFPB spoke at the Consumer Bankers Association annual conference about the need to be more flexible when applying oversight to bank & fintech partnerships; “We need to do a better job of educating our supervision staff, in some cases, in terms of interpretation of the guidance,” said Dan Quan, who leads the CFPB’s Project Catalyst, as reported by American Banker; they also talked about better coordination to ensure consistency in oversight. Source.
With finance being one of the most heavily regulated parts of the economy and U.S. regulators haven taken a greater...
This week’s PeerIQ Industry Update continues their coverage of earnings, this week focusing on Amazon; Square acquired e-commerce service provider...
Remittance fintech Pangea is launching a bank account tied to their current product due to user based feedback; “It was...
The World Bank is estimating that remittances are likely to fall 20% in 2020; for reference, remittances dropped 5% in...