The Treasury Department recently released a report urging state and federal regulators to revamp outdated statutes and support technological innovations such as AI, machine learning and blockchain that could make the U.S. financial system more nimble and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.
Read MoreEmbattled financial technology businesses in China, which have come under tightened regulatory scrutiny, are becoming acquisition targets by mainland banks accelerating their digitalisation drive, according to global management consultancy McKinsey.
Read MoreAs 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.
Read MoreThe 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.
Read MoreFrom the market which brought cost accounting to credit card interchange, comes a credit card killer: do not reduce interchange, eliminate it. Here is the final report.
Read MoreIt 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.
Read MoreGetting bogged down in a maze or taking unnecessary risks – the current climate for FinTech in the United States often leaves players with only those two stark choices, according to Bruce Parker, founder and CEO of Modo, which describes itself as a cloud-based utility that enables payment system interoperability.
Read MoreThe Shanghai head office of China’s central bank has levied a fine of 4.12 million yuan (601,846) on Alipay, the online payment platform of Ant Financial, for violating regulations on payment services, the regulator said on Monday.
Read MoreThe wild west of Arizona is now officially open to a new kind of fintech company.
Read MoreThe Treasury Department released an extensive report Tuesday detailing how nonbanks, including fintech firms and data aggregators, should be regulated. The report makes more than 80 recommendations to regulators and Congress largely encouraging financial innovation within a regulated space.
Read MoreAfter 18 months of anticipation, the Treasury Department released on Tuesday a seminal report examining the barriers to financial technology and innovation in the United States and proposing a sweeping set of recommendations designed to cut red tape and foster continued experimentation.
Read MoreLoosening 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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