News Topic: Fintech regulations

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. ... Read full article

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. ... Read full article

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

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. ... Read full article

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

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. ... Read full article

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

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

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. ... Read full article

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

An outside paper identifies the statutes, regulations and other bureaucratic realities complicating the banking agencies’ efforts to oversee and benefit from rapidly changing technology. ... Read full article

Banks in the U.S. should take note of these requirements before opening their systems to third-party developers. ... Read full article

Regulators are beginning to recognize the importance of using alternative data to provide credit for the underbanked. Now is the time to expand its use across the industry. ... Read full article

Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight. ... Read full article

A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services. ... Read full article

In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it. ... Read full article

Policymaking has moved at an agonizingly slow speed compared with the exponential growth of technology, leaving regulators and lawmakers facing a huge task over how to keep up.  ... Read full article

With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020. ... Read full article