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The rule, which is not due out until 2024, will promote competition among financial institutions and data aggregators, Consumer Financial Protection Director Rohit Chopra said at a fintech conference.
October 26 -
Regulators have been sending out warning signals about the partnerships between banks and fintechs. Does this mean banks and fintechs have to change what they're doing?
September 13 - AB - podcast
In her last week in office, the Federal Deposit Insurance Corp. chair discusses why she worries about the dwindling number of community banks and minority-owned banks, why she has made serving low-income communities a priority during her tenure, and what she might do next.
January 31 -
The Consumer Financial Protection Bureau's inquiry into buy into the installment products should make sure fintechs abide by the same underwriting requirements as banks in this growing market.
January 26Consumer Bankers Association -
Consumers and their credit scores could be put at considerable risk unless regulators establish meaningful safeguards.
January 24The Center for Responsible Lending -
The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.
July 30 -
A Senate hearing highlighted the two parties' starkly different views of digital assets, with Democrats warning of price manipulation and Republicans saying the government should just get out of the way.
July 27 -
Graham Steele, a former Senate Banking Committee staffer who has supported strong regulation, was named as the administration's choice for assistant secretary of financial institutions.
July 20 -
The central bank said the proposed measure governing transactions on FedNow — a real-time service expected to be available in 2023 — would be similar to the framework for the current Fedwire Funds Service.
June 1 -
Some bank regulators are allowing companies that offer digital currencies to apply for a charter, potentially giving them a path to the Federal Reserve system without proper oversight.
March 11American Bankers Association