fintech

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Industrial Loan Companies (ILCs) are a different kind of financial institution. The ILC is a state-chartered FDIC-insured depository financial institution with certain advantages common to banks but without all of the corresponding regulatory overlay. This is one reason why aspiring fintech companies may consider foregoing the pursuit of a federal OCC “fintech” charter in favor…

The Commodity Futures Trading Commission’s LabCFTC recently released “A CFTC Primer on Smart Contracts” as part of LabCFTC’s effort to engage with innovators and market participants on a range of financial technology (FinTech) topics.

The Primer offers a clear and concise explanation of “smart contracts” and their potential impact on the CFTC’s mission to foster open, transparent, competitive, and financially sound futures and derivatives markets.
Continue Reading A Very Smart Primer on Smart Contracts—An Example of What One Financial Services Regulator is Doing to Foster FinTech

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of Innovation. Mulvaney said the new division, to be run by Paul Watkins under the umbrella of the CFPB, is designed to foster…

The Consumer Financial Protection Bureau(CFPB) recently issued principles for the access and disclosure of sensitive data in the financial services industry. The CFPB referred to the guidelines as principles instead of regulations so fintech and other firms can innovate while protecting consumers’ information, and give consumers the ability to consent to the sharing of information…