Weekly Fintech Focus
- The current pandemic creates new stresses on the relationship between payment processors and merchants, but there are ways to work through these challenges together. See here for our discussion reserve account issues in credit card processing agreements.
- FinCEN seeks comment on the burden financial institutions face when filing SARs.
- The CFPB files its first status report on its progress on rulemaking regarding the small business loan data rule.
- The CFPB issued a report on the consumer complaints it received during COVID-19.
- Marqeta raises $150 million with a $4.3 billion valuation.
- New mobile banking registrations in April surge 200%.