News Topic: Fintech regulations

The Federal Reserve is paying close attention to how it might regulate artificial intelligence and machine learning, Fed Gov. Lael Brainard said in a speech Tuesday. ... Read full article

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation. ... Read full article

The head of the agency developing the special-purpose federal license said the process is moving forward “independent” of legal challenges mounted by state regulators. ... Read full article

The payments and financial services industry has enjoyed an unprecedented wave of invention, but the fruits of that labor are threatened by an ideologically driven political climate that complicates the evolution of global interoperable mobile-driven ... Read full article

The consortium is starting out with a dozen banks and could have 50 within a year. ... Read full article

Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread. ... Read full article

Instead of focusing on testing grounds for fintech startups, regulators should develop initiatives to improve their own oversight and compliance technologies. ... Read full article

The approval marks the New York’s bank regulator 12th license to a crypto-related business. ... Read full article

Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks. ... Read full article

One of the country’s 50 largest banks hires a female CEO, making JPMorgan Chase’s Kelly Coffey only the third woman in that exclusive club. Bank of America’s Michelle Moore exits the workforce. And sexual harassment prompts a walkout at Google. ... Read full article

From Democrats winning control of Congress to an escalating trade war and technology companies applying for a fintech charter, there are plenty of scary prospects facing the industry. ... Read full article

The money manager plans a big expansion in Atlanta; agency makes now rare determination that debt-collection practices were “abusive.” ... Read full article

Policymakers have called for streamlined disclosures for customers granting third parties access to their financial account data. They don’t have to look far for a potential solution. ... Read full article

State regulators have once again sued the OCC, arguing it lacks legal authority to offer a federal fintech banking charter. ... Read full article

“We have actually discouraged banks from innovating,” FDIC Chairman Jelena McWilliams said in announcing a move that other agencies have made. ... Read full article

A recent study concluded there are first-mover benefits for banks that embrace open banking. But many executives see its risks instead. ... Read full article

Despite being barred from the securities industry by the SEC, LendingClub’s founder has found plenty of people to back his latest venture — and that’s a problem. ... Read full article

Readers react to efforts to improve bank branches, weigh the Consumer Financial Protection Bureau's decision to pull back on enforcing the Military Lending Act, consider efforts to build finetch sandboxes and more. ... Read full article