Tag Archives: Financial Innovation

Consumer Groups and Some States Oppose CFPB Policies Aimed at Promoting Fintech Innovation

The Bureau of Consumer Financial Protection (the “CFPB” or “Bureau”) announced a trio of policies in September and December of 2018 intended to provide regulatory relief to banks and fintech companies developing new financial products and innovative disclosure methods, as part of its ongoing effort to promote innovation in financial technology. In public comments on … Continue Reading

ESA Report Outlines Strategies on Facilitating Cross-Border EU Fintech Innovation

In a joint report (the “Report”) published on 7 January 2019, the EU’s three financial industry watchdogs considered the need for potential strategies to help coordinate and promote innovation in the EU fintech space. The Report by the European Securities and Markets Authority (“ESMA”), European Banking Agency (“EBA”) and European Insurance and Occupational Pensions Authority … Continue Reading

Office of the Comptroller of the Currency Encourages Banks to Meet Consumer’s Needs for Short-Term, Small-Dollar Credit; BCFP Voices Approval

Yesterday, the Office of the Comptroller of the Currency issued a bulletin encouraging national banks and federal savings associations to make short-term, small-dollar installment loans that are both safe and affordable available to consumers. The bulletin observes that despite the need, many banks have withdrawn from this market, forcing consumers to turn to non-bank lenders. … Continue Reading
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