CFPB proposes new laws to stamp out NSF fees for transactions declined in real time
NSF fees on debit card and ATM transactions will be “unlawful” under the proposed rule.
Regulation
Circle gears up for second attempt at IPO with new SEC filing
The stablecoin company has confidentially submitted a draft registration statement with the US regulator.
Credit union FirstOntario readies for Canada’s open banking push with Flinks and Everlink
The partnership is in anticipation of Canada’s 2025 rollout of open banking.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
The What the FinTech? podcast | Season four’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
What the FinTech? | S.4 Episode 23 | 2023 in review
In the final podcast episode of 2023, we’re joined by banking tech veteran Dharmesh Mistry.
ICYMI fintech funding round-up: Nearpay, Supra, Hyperplane and Pave Bank
Our weekly round-up for you to get the latest fintech funding news from around the world.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
Canapi Ventures reveals new $750m fund to support US fintech entrepreneurs
The VC firm says the latest fund takes its total assets under management to over $1.4 billion.
Elemi Bank applies to FDIC and seeks $25m in capital to launch corporate offering
The bank is expected to establish itself as a state-chartered, corporate bank with a B2B offering.
US OCC highlights key risks to federal banking system in latest report
The report also covers the current market, credit and compliance risks being faced by FIs.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Canadian regulator fines RBC $5.5m for “administrative violations” of its AML rules
FINTRAC says it uncovered three administrative violations by RBC during an examination last year.
How Europe’s PSPs are bracing for SEPA instant payments
The European Parliament approved final implementation deadlines for SEPA instant payments on 7 November.
SoFi set to end crypto services, taps Blockchain.com as “strategic crypto partner”
SoFi’s cryptocurrency services will formally end on 19 December.
JP Morgan receives approval from ADGM to upgrade licence, plots UAE expansion
The US banking giant is aiming to boost its presence and service offerings in the UAE.
ICYMI fintech funding round-up: Kiwi, ID Finance, Crezco and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance CEO exits after pleading guilty to money laundering charges
Binance has agreed to pay $4.3bn in “one of the largest corporate penalties in US history”.
After Binance and Coinbase, the US SEC sues crypto exchange Kraken
Kraken says it disagrees with the allegations and aims to “vigorously defend” itself in court.
Blue Ridge Bank set to trim BaaS fintech partnerships down to a “limited number”
The bank was flagged by the OCC last year for “unsafe or unsound” practices concerning its BaaS business.
US lender Enova fined $15m by CFPB for “widespread illegal conduct”
Enova says it has reached an agreement with the CFPB, with the majority of items being self-reported by the firm.
FinTech Futures: Top five stories of the week – 17 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Global enforcement fines rise to $5.65bn in Q3 2023
The first two quarters of this year saw global enforcement fines amount to $1.5bn and $2.27bn, respectively.
Regulators should greenlight more M&A among banks and fintechs to avoid bankruptcies
Consolidation and M&As can create an environment where dynamic regional banking ecosystems can flourish.
Block’s Cash App withdraws bid for Irish virtual asset licence
Cash App had been pursuing a VASP licence in the country since 2021.
Improving safety in AI
Having regulators test AI before release will ensure a much better understanding of its capabilities.
Q&A: Nauman Anees, co-founder and CEO of ThinkMarkets, on proprietary technology, expansion and growth vision
The mindset of today’s investors and the importance of maintaining a competitive edge.
CFPB targets US fintech firms with proposals for increased regulatory scope
The proposals will target 17 companies who control 88% of the market share.
Video: Ecommpay at Open Banking Expo 2023 – The unstoppable rise of open banking
We chat with Ecommpay’s Olga Karablina about the state of play of open banking adoption worldwide.
FinTech Futures: Top five stories of the week – 3 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
The unfolding landscape of open banking
As regulatory sands shift, businesses should be confident moving towards open banking.
What the FinTech? | S.4 Episode 19 | Adapting to regulatory modernisation
In this podcast episode recorded live at Money20/20 USA, we chat with Scot Lenoir, Chairman of Evolve Bank & Trust.
The US Federal Reserve proposes new single cap on interchange fees
Reserve board member and governor Michelle Bowman has opposed the revised cap.
JP Morgan Payments taps Trulioo for personal and business ID verification
JP Morgan Payments will leverage Trulioo’s person match and identity document verification services.
US Bank subsidiary Elavon lands UK banking authorisation
With the licence, Elavon intends to offer authorisation, settlement, card machines, and banking services in the UK.
What the FinTech? | S.4 Episode 18 | Powering the future of cross-border payments
In this episode of the podcast, we’re joined by Teresa Cameron, Finance Director at Clear Junction.
US Federal Reserve Board slaps $14.5m fine on Metropolitan Commercial Bank
The Board alleges that the bank violated customer identification rules.
FinTech Futures: Top five stories of the week – 20 October 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Generali Investments’ holding company taps Fenergo for AML compliance
Through the partnership, Generali Investments Holding will utilise Fenergo’s client lifecycle management solution.
