The news was dominated this week by the CFPB announcement yesterday that we finally have proposed rules for open banking in this country. It has been 13 years since the passage of Dodd-Frank but Section 1033 of the Consumer Financial Protection Act has remained dormant until now. Click the image above to listen to the […]
In July, the Federal Reserve launched its new system for instant payments, FedNow, culminating a four-year undertaking and delivering the first new central bank payments rail in 50 years. While The Clearing House’s RTP Network has been in operation since 2017, FedNow’s launch has changed the dialogue around instant payments in the US from “if […]
In the world of CBDCs, the European Central Bank (ECB) has been, very publicly, active. Despite some backlash from the public (all one has to do is search “digital euro” in X for some colorful results), the organization has progressed through the “investigation phase”. Over the course of the last two years, a number of […]
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The Caribbean region boasts a population of approximately 45 million people. For context, that is significantly larger than Canada’s 38 million and just shy of Spain’s 47 million. However, about two-thirds of Caribbean citizens are unbanked, meaning they are predominantly cash-based. Thus it is critical to the region’s economic future to introduce innovative financial solutions […]
Today, October 19, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a long-awaited rule that aims to accelerate the shift to open banking in the US. The Personal Financial Data Rights rule proposal includes additional protections for consumers trying to access their financial data and forbids financial institutions from charging for access. CFPB Director Rohit […]
Enjoying our podcasts? Don’t miss out on future episodes! Please hit that subscribe button on Apple, Spotify, YouTube, or your favorite podcast platform to stay updated with our latest content. Thank you for your support! Medical debt is the number one reason people go bankrupt in the United States. So, you would think there would be a plethora of […]
Banking-as-a-service (BaaS) has risen ever stronger over the course of 2022 and 2023. Global market value is predicted to rise at a rate of 16.2% between 2022-2030, driven by digital transformation and increased interest in embedded finance options. But within this boom of BaaS, cracks are starting to show. On October 8, 2023, Jason Mikula […]
Typically, the private commercial debt market has been weighted in the favor of institutional investors, leaving retail investors out. “Debt investing historically has excluded certain groups, reserving high-quality investment opportunities for the wealthy few,” said Sundip Patel, Co-Founder and CEO of AVANA Companies. He explained that the sector, made up of large investments, had many […]
In a climate where capital is in short supply, fintech companies in Latin America and Mexico persist in gaining recognition from investors. Notably, the neobank Albo recently secured $40 million in a Series C round, marking one of the latest investment rounds for startups in the Latin American region. California-based venture capital firm Morpheus Ventures […]