Providing additional flexibility for credit unions to use “advanced technologies and opportunities” in lending that is offered through financial technology (fintech) firms is the stated goal of a proposed rule issued Thursday by the federal […]
Partnerships between financial technology firms (fintechs) and banks should be subject to enhanced supervision aimed at addressing risks to consumer protection and market integrity, according to a report released Wednesday by the Treasury Department. The […]
Claims that a faulty algorithm has caused overdrafts and overdraft penalties for customers has led to an action – including a $2.7 million fine – by the federal consumer financial protection agency against a San […]
The impact of financial technology (fintech) entities and nonbanks on banking and the markets for lending, deposit-taking, and payment services is the subject of research – and a call for papers – by the national […]
Communicating the appropriate use of alternative data in the underwriting process with banks that engage in third-party relationships with fintech lenders is one of three recommendations from the congressional watchdog that the Federal Reserve that […]
Fintech and cryptocurrency were among the key topics Tuesday of addresses by two members of the National Credit Union Administration (NCUA) Board before a Washington, D.C., audience of credit union leaders and staff. Speaking before […]
A virtual Innovation Office Hours event, in which participants will be able to meet one-on-one with agency representatives on innovation in banking, will be hosted March 16-17 by the Office of the Comptroller of the Currency […]
If earlier agency communications have been interpreted as “tacit encouragement” for banks to engage in crypto activities, the next round of releases will clarify that “safety and soundness is paramount,” Acting Comptroller of the Currency […]
Helping community banks assess risks when considering relationships with financial technology companies is the aim of a new guide issued Friday by the federal banking agencies. In separate releases, the agencies said the guide – […]
Joint agency guidance for banking institutions on third-party risk management – including that related to arrangements with fintech (financial technology) firms – was issued Tuesday for a 60-day public comment period by the Federal Reserve, […]
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