Weekly Fintech Focus

  • Federal financial regulators issue an RFI to better understand financial institution usage of AI models and its implications on current regulations.
  • CFPB rescinds policy statements that provided regulatory flexibility in response to pandemic challenges.
  • National Futures Association issues regulatory outsourcing guidance.
  • Lina Kahn announced as nominee for FTC commissioner position.
  • FinCEN Director meets with a number of groups to discuss SAR filing.
  • Prepared Remarks of FinCEN Director delivered at the Florida International Bankers Association AML Compliance Conference
  • CFPB faced many more consumer complaints in 2020 than in the past.
  • CSBS working with a number of states to develop a single fintech exam.
  • An earned wage access company settled allegations of its services causing bank overdraft and insufficient fund fees.
  • The UK FCA issues a feedback statement on open finance.

Continue Reading Fintech Week in Review: Week of April 2, 2021

A new update published by Perkins Coie’s Investment Management practice, reviews a summary report, issued on June 10, 2020, by the Financial Industry Regulatory Authority (FINRA), regarding the existing and emerging uses of artificial intelligence by securities industry market participants. The report, Artificial Intelligence (AI) in the Securities Industry, reflects nearly two years’ worth