Fintech regulations

Rakuten withdraws ILC application, plans to refile

03/23/20

The company's plan had drawn strong criticism from bankers about Rakuten's potentially controlling an industrial loan company while engaging in its non-financial businesses.

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ILC freeze breaks with federal approvals for Square, Nelnet

03/18/20

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

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Speed matters during a crisis. Here's how tech can help.

03/18/20

Online platforms and apps can be utilized to quickly support small businesses and consumers facing unexpected financial hardship.

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Will the U.S. ever enact a national interest rate cap?

03/05/20

Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.

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Simpler is better for fintechs breaking into banking

02/20/20

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds.

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6 statehouse issues on bankers’ radar

02/11/20

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

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FDIC aims to smooth de novo process for nontraditional firms

02/10/20

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

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FDIC aims to smooth de novo process for nontraditional firms

02/10/20

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

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California governor to fintechs: Forget Utah. Be an ILC here.

02/07/20

Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters.

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Where’s crypto’s watchdog?

01/29/20

Criminals are filling the void left by lax U.S. regulation of cryptocurrencies.

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