To really address the racial wealth gap fintech companies need a new mindset. Traditional products, even with a fintech twist, are not making a big enough difference.
Look beyond the initial aftereffects of recent market shocks and there are plenty of positive developments happening in blockchain-related industries, the leader of a global investment firm believes.
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With 2.6 million people and the highest remittances in Africa, Nigeria is currently the 7th most populous country in the world.
On November 7, China passed data control laws that had been put on the table in August; the laws include government security checks on companies in finance, telecommunications and other critical data industries as well as mandatory in-country data storage; also, individuals will have to register with their real names on messaging services; businesses are concerned that information flow will be curtailed in industries where this is critical to be effective and corporate security checks have the potential to be invasive rather than simply regulatory; the law will go into effect next summer; some aspects of the law will need clarification over time from the government. Source
The UK's Cambridge Center for Alternative Finance (CCAF) is actively involved in industry research and is currently doing three alternative finance surveys; much of the research is in conjunction with the Financial Conduct Authority (FCA), providing insight for its crowdfunding consultation period; CCAF is surveying crowdfunding investors and crowdfunding borrowers; CCAF has also announced it will now be doing a survey on blockchain and cryptocurrencies; as part of the FCA's regulatory study, CCAF is working with 25 crowdfunding and P2P lending platforms in the UK to gain greater insight into the crowdfunding ecosystem. Source
The Securities and Exchange Commission (SEC), a financial government agency overseen by the Financial Stability Oversight Council, held a fintech forum discussing the industry; industry speakers included Ram Ahluwalia from PeerIQ and Matt Burton from Orchard; SEC speakers included Mary Jo White and Michael Piwowar; Mary Jo White focused on fintech responsibility suggesting thorough testing of various aspects of the business before introduction; Michael Piwowar focused on fintech sandbox testing and suggested that the SEC should be the lead agency regulating fintech; in an announcement on Monday, Mary Jo White also said she would be leaving her role in January. Source
Earlier this month a task force of Joe Biden and Bernie Sanders supporters released a document with policy ideas including...
I first wrote about the GAO report on p2p lending last year. The GAO have been doing an analysis of...
The Federal Reserve has finally opened up the Main Street Lending Program for registration; this is the program targeted towards...
'We have the emergence of great innovation, but it's often in highly regulated industries, where regulators only have very blunt instruments to support that.'