Regulatory Developments

Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act

Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act

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Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

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Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests

Federal Reserve Board releases hypothetical scenarios for second round of bank stress tests

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Request for Comments

FINRA encourages comments on this paper, including areas where guidance or modifications to FINRA rules may be desired to support adoption of AI applications while maintaining investor protection and market integrity. Comments are requested by August 31, 2020. Member firms and other interested parties can submit their comments using the following methods:

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Industry’s second-quarter premiums increase

The title insurance industry generated $4.18 billion in title insurance premiums during the second quarter of 2020, according to an analysis by the American Land Title Association.

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Cybersecurity, Data and AML/Sanctions

AT&T: Economic Pressures Could Curb Consumer Enthusiasm For iPhone 5G

AT&T is warning against too much optimism over the rollout of new Apple 5G iPhone technology supposedly slated for October, CNBC reported. AT&T Communications CEO Jeff McElfresh said he’d “always tried to soften folks’ expectations around 5G,” according to CNBC. This comes after Apple predicted mass swathes of people coming online with the new, speedier … Read more

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Today In Payments: FinCEN Files Reveal Billions In Suspicious Money Flows; Chime Now More Valuable Than Robinhood

In today’s top news FinCEN discovered an underworld of corruption in the world’s banks and how governments allow it to thrive, and challenger bank Chime is now worth more than Robinhood. Plus, a California judge temporarily blocked President Trump’s WeChat ban. Report: FinCEN Files Reveal Billions In Suspicious Money Flows The Financial Crimes Enforcement Network … Read more

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CIA’s new tech recruiting pitch: More patents, more profits

America’s most famous spy agency has a major competitor it can’t quite seem to beat: Silicon Valley. The CIA has long been a place cutting-edge technology is researched, developed, and realized—and it wants to lead in fields like artificial intelligence and biotechnology. However, recruiting and retaining the talent capable of building these tools is a … Read more

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It’s getting harder for tech companies to bridge the US-China divide

Corporations have never been able to cleanly separate their activities from geopolitics. Now, technology firms are finding it increasingly difficult to work across the US-China divide. Try as they might to cross-pollinate through research and investments, the climate between China and the United States continues to deteriorate into political one-upmanship, leaving users to pay the … Read more

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App bans won’t make US security risks disappear

Will the US government ban TikTok and WeChat, or won’t it—and why? With the Trump administration issuing vaguely phrased executive orders and policies about the apps, even as legal challenges against potential bans move through the courts and the president gives his “blessing” to a deal to keep TikTok in US app stores, it’s hard … Read more

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Crypto/Blockchain

Brazilian fund manager and Nasdaq to launch world’s first Bitcoin ETF

Regulated Brazilian fund manager Hashdex has inked a deal with Nasdaq to launch the world’s first crypto asset exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX). The stock exchange announced it had approved the ‘Hashdex Nasdaq Crypto Index’ on September 18, revealing that 3 million Class E shares will be issued for trade on … Read more

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DeFi plummets: 3 reasons for the 46% correction from YFI, UNI, DEX tokens

After outperforming Bitcoin (BTC) and Ether (ETH) strongly in August, Decentralized Finance (DeFi) tokens are now plummeting as many registered losses of up to 50%.  Cryptocurrency daily market performance snapshot. Source: Coin360 At the moment, the two coins garnering the most attention are Yearn.finance (YFI) and Uniswap (UNI) as both have dropped by 46% and … Read more

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Iran Grants Bitcoin Miners Exclusive Access To Electricity From Three Power Plants

Iran has granted bitcoin miners exclusive access to electricity generated from three power plants for their mining activities, according to state power utility Thermal Power Plant Holding Company (TPPH). Mohsen Tarztalab, managing director of TPPH, told a local news agency on Monday that the “necessary equipment has been installed in three power plants of Ramin, … Read more

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Silk Road Programmer Pleads Guilty to Making False Statements

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Turbulent Crypto Markets Expected – 87K Worth of Bitcoin Options Set to Expire on Friday

Markets are expected to be volatile this week, as a great number of bitcoin and ethereum options are set to expire this Friday. Data shows more than 87,000 bitcoin options will expire and 77% of the action is held on the Deribit exchange. U.S. stocks dropped hard on Monday, as the Dow Jones Industrial Average … Read more

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Banking, Finance and Investment

Update: Boring Money’s Crowdcube Round Now Nearing £900,000 in funding

Boring Money, a UK-based startup that helps users make better financial choices by offering investment/pension guides, is now nearing 900,000 in funding through its equity crowdfunding campaign on Crowdcube. The company’s funding round made its debut earlier this month, originally seeking £300,000.  As previously reported,… Read More The post Update: Boring Money’s Crowdcube Round Now … Read more

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Five techniques for financial institutions to build and protect their digital reputation

As a financial service provider, your reputation is one of your biggest assets. It’s what sets you apart from the competition, and it lets customers know what to expect from your services. Now, with more of our daily interactions taking place digitally, banks and financial institutions need a way to track and monitor their online … Read more

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How COVID-19 is altering the payments landscape for merchants

In just a few months, we’ve seen the kind of consumer behavioural shifts that usually take decades. As consumers have become accustomed to world-class products and services in the comfort of their own homes, ecommerce has grown in popularity over the last few years. The effects of the global pandemic, however, have dramatically accelerated uptake. … Read more

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Jacksonville Jaguar Fans Can Now Pay Via QR Codes

The Jacksonville Jaguars are now allowing QR-based mobile payments at retailers and concessions at the TIAA Bank Field Stadium through a mobile Jags Pay wallet in the official team app, according to a report from NFCW. Supporters have already been using the app to access tickets on game day to enter the stadium. Android and … Read more

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Combined Value Of Visa, PayPal, Square And Mastercard Crests $1T

The biggest FinTech companies have been rising in valuation faster than the largest banks, seeing a total of more than $1 trillion now, according to CNBC. Between Square, Visa, PayPal and Mastercard, the valuation is currently sitting at $1.07 trillion, against the “big six” banks — J.P. Morgan, Bank of America, Wells Fargo, Citigroup, Morgan … Read more

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