Today, the Consumer Finance Protection Bureau (CFPB) announced a no-action letter to Upstart, an online consumer lender. A no-action letter...
Mr. Clayton is chairman of the Securities and Exchange Commission and Mr. Giancarlo is chairman of the Commodity Futures Trading Commission; in a Wall Street Journal article they share their perspective on regulation as it relates to cryptocurrencies; they discuss trading, listed bitcoin futures products, ICOs and more. Source
The new regulation came from a new state body focused on regulating internet finance; it put a stop to new approvals of offline micro lending companies; companies already in operation may see heavier regulation which has caused drops in the share price of recent IPOs including ZhongAn, Ppdai and Qudian. Source
Chinese regulators released a draft of new rules for Chinese p2p lending platforms today. According to several reports, the China Banking Regulatory Commission...
We have another busy week of great sessions for LendIt Fintech Digital: Tuesday 12pm ET – The Power of Mental...
Yesterday, the CFPB formally rescinded a plan to impose new limits on payday lending; the proposed changes were a signature...
These operations had been legally challenged by credit card companies, which currently dominate this type of activity in Chile.
Over the weekend China’s central bank stated that they will be gradually introducing a system of rules in order to...
The SEC's filing against Coinbase was expected, but might be the beginning of the end to their years of crypto regulation avoidance.
New regulations on asset management will increase capital that institutions have to hold in China; these regulations will significantly affect bank and nonbank relationships; banks have repackaged loans and transferred them to brokerages and other lenders which eventually make their way to investors; last year these transactions totaled $3.5 trillion in off-balance sheet lending according to the Wall Street Journal; one example of a lender that has been fined is China Guangfa Bank which turned loans going sour into high yield investments. Source