As technology and innovation lead to more financial products and services migrating outside the regulated banking sector, regulators must be mindful of systemic risks posted to the financial system, FDIC Chairman Jelena McWilliams said in remarks today.
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Small business performance and financing success rates dipped slightly in 2016, according to the latest Small Business Credit Survey released today.
An overwhelming majority — 87.5 percent — of small business owners say they’re investing more in their business in this year than in 2015, and most are borrowing funds in order to do so, according to a study published today by fintech company BizFi.
Business lending is fundamentally different from consumer lending, and regulations should not treat them similarly, a bipartisan group of 20 House members told Treasury Secretary Jack Lew in a letter yesterday.
The Consumer Financial Protection Bureau is expected to propose a rule allowing it to supervise online marketplace lenders, according to a Wall Street Journal article today.
Repeated attempts by online payday lenders to collect payments via direct debit can lead to unanticipated consequences for consumers’ bank accounts, according to a report issued by the Consumer Financial Protection Bureau today.
It is unclear whether nonbank financial technology firms have fully captured the risks of economic downturns and cybersecurity breaches into their business model, Federal Reserve Bank of Boston President Eric Rosengren said in a speech today.
The CFPB announced today that it is now accepting consumer complaints about loans from online marketplace lenders.