Compliance

A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.

The Trump administration is accelerating its restrictions on immigration, including a ban on skilled workers that will make it harder for fintechs to hire people from outside the U.S.

Wirecard AG’s former chief executive officer was detained by Munich prosecutors after 1.9 billion euros ($2.1 billion) went missing from the digital-payment company, in a scandal that has rattled Germany’s financial industry.

Though the agenda is unclear, the National Credit Union Administration's board meeting could include the long-awaited credit union version of the Community Bank Leverage Ratio.

A proposal from the credit union regulator was criticized for being needlessly complex and not requiring enough transparency.

The Office of the Comptroller of the Currency has endured a fairly choppy legal ride since unveiling its idea five years ago to establish a special charter for non-bank fintech companies to access a nationwide financial system for lending services without worrying about being licensed to do so in all 50 states.

Given American Express was reporting a 95% hit to one of its core businesses less than two months ago, announcing access to the world’s largest digital payments market has to be a major sigh of relief — even if there’s still entrenched competitors, an international virus and a cold war to navigate.

The regulator cited "unsafe and unsound practices" at the Georgia-based institution, which is the first credit union to be conserved this year.

The push for a public option to digitize government payments has gotten stronger, and the discussion has moved on from whether it should happen to how it should happen.

AI is not merely a play to cut costs or replace human capital, says Silent Eight's Jim Logan.