I am a big fan of earned wage access. When I last wrote about it in 2019, I made the...
US legislators have proposed that student loan debt be discharged in the case of bankruptcy; the current law gives added protection to student loan lenders by requiring the debt to be repaid in bankruptcy; lawmakers and lobbyists are also considering other provisions that would provide debt relief to student loan borrowers who have filed for bankruptcy; while the debt relief initiatives will benefit borrowers, the effects will add increased default risk for investors in private student loans and private student loan securitizations. Source
[Editor’s note: This is a guest post from Ryan Metcalf, Head of Public Policy & Social Impact at Funding Circle.] Fintech...
Anew approach to the FCA and how they interact with fintech, focusing on fostering innovation, being intelligence-led, and preparing for the future.
Fed Reserve Governor Christopher Waller said that FedNow will launch a country-wide interstate highway for payments in about six months.
A look back at the most popular fintech stories, podcasts and cartoons of 2023.
The Financial Conduct Authority has issued an update on its rules for the crowdfunding market; the update is based on feedback received since July and its authorization process; seems there will be a number of modifications; some of the key areas for new regulation in P2P lending include disclosure, wind-down plans, mortgage lending standards, cross-platform investment, investment limits, operational risk complexity, marketing promotions, provision funds, money handling standards, regulatory arbitrage, maturity mismatching, investment for institutional investors and liquidity risk for IFISA investors. Source
CFPB Director Rohit Chopra has made it clear that he embraces an expansive view of the Bureau's authority to remedy inequities.
There is much recognition that blockchain, DLT, and associated technologies are potentially beneficial, with many use cases emerging.
Patrick McHenry is one of the most proactive advocates for fintech in Congress; at LendIt USA 2017 he provided his insight from Congress on fintech and also spoke with Lend Academy in their podcast; his views are framing many of Washington D.C.'s legislative debates and his legislation, the Financial Services Innovation Act of 2016 (HR 6118), could be a significant factor helping to support future fintech innovation in the US. Source