regulation

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The Treasury Department recently released a report urging state and federal regulators to revamp outdated statutes and support technological innovations such as AI, machine learning and blockchain that could make the U.S. financial system more nimble and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

Read More

Tightening Regulations Makes Fintechs Easy Takeover Targets

Embattled 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 More

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.

Read More

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.

Read More

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.

Read More

FinTech Firms on the New FinTech Charter

Getting 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 More

China Fines Alipay for Violating Payment Services Regulations

The 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 More

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.

Read More

6 Takeaways From the U.S. Treasury’s Fintech Report

The 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 More

What Does the U.S. Treasury Fintech Report Mean for Crypto?

After 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 More

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.

Read More

Deutsche Bank Fails Fed Stress Test While Three U.S. Lenders Stumble

Deutsche Bank AG’s U.S. subsidiary failed on Thursday the second part of the U.S. Federal Reserve’s annual stress tests due to widespread and critical deficiencies in the bank’s capital planning controls. The Fed board’s unanimous objection to Deutsche Bank’s U.S.

Read More