Consumer Bankers Association

civilization and politics Crypto exchanges / cap mkts paytech regulation & compliance

·Sep. 13, 2021

The principle behind Mastercard’s CipherTrace acquisition, L1 growth, and IRS getting your bank data

Paying attention is the path to seeing and doing. Mastercard has bought CipherTrace to see blockchain-based finance, to launch new businesses, and to plug in more networks into its nexus. The crypto networks proliferate at every layer, creating more computation on Ethereum, Polygon, Arbitrum, Optimism, Fantom, and Solana. The US executive seeks to see more too, asking the banks for their records of financial transactions to enforce taxation compliance.

Read Full Story

Fintech USA

·Jun. 24, 2020

Bank Associations Renew Opposition to Rakuten’s New ILC Charter Application

Japanese e-commerce giant Rakuten first applied for an ILC charter last year before withdrawing the filing and refiling this May;...

Read Full Story

Fintech USA

·Jul. 20, 2020

Banks Still Leery of Offering Small Dollar Loans

Despite recent regulatory changes designed to encourage banks to offer small dollar loans few banks are taking up the challenge;...

Read Full Story

Fintech News Roundup USA

·Mar. 8, 2018

Banks Look to Break Up Government Monopoly on Student Loans

The main lobbying group for banks, the Consumer Bankers Association, is trying to get the government to add caps on how much graduate students and parents of undergraduates can borrow from the government; caps would force people to go to private lenders and would benefit those with better credit histories; there is also a group of investors trying to get clearer legislation passed for income sharing agreements; changes could result in billions of dollars worth of opportunities for banks and investors as the most recent academic year totaled $107bn. Source.

Read Full Story