Aug 9, 2019 | Federal Regulation, FinTech, News
← Previous Article Next Article → Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced the results of its No-Action Letter given to fintech company Upstart Network in late 2017. With the no-action policy, Upstart was able to show that...
Jul 26, 2019 | Federal Regulation, FinTech, News
← Previous Article Next Article → The payment provisions of the Consumer Financial Protection Bureaus’ (CFPB) small-dollar rule (the Rule), also known as the payday rule, is set to go into effect on August 19, 2019. Last month, the CFPB updated its Small...
Jul 24, 2019 | Congressional Legislation, Federal Regulation, FinTech, News
← Previous Article Next Article → Earlier today, a congressional delegation sent a letter to Kathy Kraninger, Director of the Consumer Financial Protection Bureau (CFPB), urging the CFPB to adhere to the agency’s policy on Tribal Consultation. The signers of...
Jul 8, 2019 | Banks & Credit Unions, FinTech, News
← Previous Article Next Article → Over the last two years, banks have increased their lending to nondepository financial institutions, many of which are fintech firms, by 23 percent, according to data compiled by FedFis. In comparison, commercial and credit...
Jul 5, 2019 | Congressional Legislation, FinTech
← Previous Article Next Article → Several House Democrats, led by Maxine Waters, chair of the House Financial Services Committee, sent a letter to Facebook executives urging them to halt plans for a new digital currency called the Libra.“We write to request...
Jun 20, 2019 | FinTech, News
← Previous Article Next Article → Although discrimination in lending remains a problem in America today, discrimination is declining, largely as a result of fintech firms’ use of algorithms. According to the latest research, fintech algorithms discriminate...
