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