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Tag Archives: FinTech

Lawmaker seeks CFPB fair lending investigation of fintech small business lenders

Posted in CFPB Rulemaking, Fair Lending, Technology

A Democratic congressman has raised concerns about potentially discriminatory lending practices used by fintech companies that extend credit to small businesses, calling on the CFPB “to vigorously investigate whether [such fintech companies] are complying with all anti-discrimination laws, including the Equal Credit Opportunity Act.” In a letter to Director Cordray dated March 15, 2017, Representative… More >

Director Cordray and Comptroller Curry speak at LendIt USA conference

Posted in Marketplace Lending, Technology

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which both CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry spoke. Director Cordray began his remarks by returning to his familiar “level playing field” theme, observing that “[e]venhanded oversight of all providers” regardless of… More >

Innovation versus consumer protection: emerging battle lines

Posted in CFPB Enforcement, Technology

The announcement by the Office of the Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire from the New York Department of Financial Services (DFS) and the Conference of State Bank Supervisors (CSBS).   In their statements responding… More >

Cordray remarks/CFPB report on financial innovation and Project Catalyst include warning on limiting consumer access to financial data

Posted in Technology

In a new report, the CFPB discusses its approach to FinTech and financial innovation, its Project Catalyst initiative, and marketplace developments the CFPB views as potentially beneficial for consumers.  The report, entitled “Project Catalyst report: Promoting consumer-friendly innovation-Innovation Insights,” was released in conjunction with remarks given by Director Cordray at Money 20/20, a large conference… More >

Brookings to hold Oct. 13 fintech event

Posted in Marketplace Lending, Technology

On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. titled: “How to make fintech work for all Americans.”  Speakers include industry representatives and an FDIC representative.  Brookings describes the event as “a conversation about the effects of the fintech boom, with a particular focus on how regulation and public policy… More >

SEC to hold fintech innovation public forum

Posted in Technology

The Securities and Exchange Commission has announced that it will host a public forum in Washington, D.C. on November 14, 2016 to discuss financial technology innovation in the financial services industry.  The forum is designed to foster greater collaboration and understanding among regulators, entrepreneurs and industry experts about fintech innovation and evaluate how the current… More >

Key Takeaways from the OCC Forum on Supporting Financial Innovation

Posted in CFPB General

While the CFPB has not yet held a public event devoted to FinTech or financial innovation, the Office of the Comptroller of the Currency (OCC) recently held a Forum On Supporting Financial Innovation in the Federal Banking System to discuss the agency’s approach to FinTech and other innovative products. The forum follows up on the… More >