Regulatory

U.S. Treasury: Regulators Should Back Off FinTech, Allow Innovation

The Treasury Department recently released a report urging state and federal regulators to revamp outdated statutes and support technological innovations such as AI, machine learning and blockchain that could make the U.S. financial system more nimble and competitive.

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OCC’s Fintech Charter Is a Mistake

The national fintech charter announced last week by the Office of the Comptroller of the Currency has been positioned by its supporters as a means of encouraging innovation and growth, but instead it brings new risks and market distortions to the U.S. economy.

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How the World Is Regulating the $220 Billion Cryptocurrency Market

As an increasing number of people get involved with cryptocurrencies in some way, particularly retail rather than professional investors, regulators have taken a keen eye on the industry. But it’s not just bitcoin they are looking at.

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Some States Readying for a Fight Over Federal Government’s FinTech Oversight

Some states are girding for a fight with the Trump White House over plans for the federal government to increase its role in overseeing the FinTech startup market.

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CFPB Joins Foreign Regulators in Global Financial Innovation Network

The Consumer Financial Protection Bureau today announced a new partnership with 11 financial regulators and related organizations around the globe aimed at creating a Global Financial Innovation Network. The network is intended to facilitate interactions between regulators and innovators as they seek scale and ubiquity for new technologies.

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Treasury Finds Promise In, Urges Regulation Across, FinTech Landscape

It was no surprise that FinTech dominated regulatory headlines this past week, with a Treasury report that helped set the stage for a sea change in how these financial upstarts might be both governed and cultivated.

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Brokers’ Cryptocurrency Deals Are Focus of SEC Review

Wall Street’s main regulator is boosting its scrutiny of brokerages that deal in cryptocurrencies, according to two people familiar with the matter, the latest sign that authorities want to know more about a burgeoning market that they fear might be full of misconduct.

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Breaking the Seal? Arizona Attorney General Opens Applications to First Fintech Sandbox

The wild west of Arizona is now officially open to a new kind of fintech company.

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A “Good Start”: U.S. Introduces Office of Innovation and Sandbox for Fintech

Fintech businesses struggling to stay inbounds of government rules may soon receive a dose of much-needed guidance via the Consumer Financial Protection Bureau (CFPB).

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PODCAST: Upheaval at the CFPB

The nomination of Kathy Kraninger as CFPB director has sparked fights in Congress. Meanwhile, the agency has taken several notable enforcement actions. American Banker reporter Kate Berry explains what these developments mean for the CFPB’s future.

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AI, Security and Loosened Rules: How the US Wants to Boost FinTech

Loosening federal regulations, enacting national data breach protections and drafting model laws at the state level to reduce overlapping red tape, could help promote FinTech in the United States, according to report released Tuesday (July 31) by the U.S. Treasury Department. The report arrives at a time of growing optimism for U.S.

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FINRA Seeks BD Feedback on How Regs Affect Fintech

The Financial Industry Regulatory Authority wants broker-dealers to weigh in on how the self-regulator can foster innovation in the fintech space while ensuring investor protection and market integrity, and how current FINRA rules may be getting in the way of such innovation.

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