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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. According to the banks that have linked with FinTech firms, such guidelines would help relationships between the parties.

Lending 150
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Wyoming creates fintech sandbox

CFPB Monitor

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). Arizona was the first state to create a fintech sandbox and we will soon be publishing a blog post about Utah’s new fintech sandbox.)

Wyoming 60
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CFPB and Utah AG announce joint office hours in Salt Lake City as part of ACFIN

CFPB Monitor

The CFPB announced ACFIN’s creation last September, in conjunction with finalizing revisions to its trial disclosures and no-action letter policies and its proposal to create a new fintech sandbox policy.

Utah 78
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CFPB and Colorado Attorney General announce joint virtual office hours as part of AFCIN

CFPB Monitor

The CFPB announced ACFIN’ s creation last year, in conjunction with finalizing revisions to its trial disclosures and no-action letter policies and its proposal to create a new fintech sandbox policy.