Weekly Fintech Focus
- In response to pandemic challenges, card networks agree to delay merchant fee hikes that would have taken place next month.
- E-commerce activities continue to grow and are projected to reach $1 trillion in revenue by next year.
- The BIS publishes a paper urging a global rethink on how to regulate big tech companies engaged in financial services to address systemic risk.
- Fintech trade groups launch to address issues like financial inclusion and regulatory approaches to fintech engagement in the financial services industry.
- Regulators issue the first enforcement action directly referencing a bank’s role in serving marijuana-related business customers.