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AFC Writes to OCC: Partnerships and Regulatory Clarity Key For Community Banks to Take the Next Step

The Fintech Times

In addition to a focus on partnerships and their role in advancing underserved communities, the AFC also highlights that without consistent and clear oversight, community banks could be plagued by disproportionate compliance burdens.

OCC 59
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Consumers International partners with Mastercard to accelerate equitable global consumer protection in the digital economy

Fintech Finance

A grant from the Mastercard Center, through the Mastercard Impact Fund, will accelerate the research and development of a global framework for consumer protection and empowerment in new and emerging digital infrastructure to ensure the potential of these platforms is realized.

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FCA and PSR Detail ‘Significant Opportunity’ of Digital Wallets, as Reliance on Them Grows

The Fintech Times

The majority of stakeholders highlighted that consumers benefit from a more seamless and efficient payment journey, including enhanced authentication security measures and greater financial accessibility for underserved groups. Responses raised potential competition, consumer protection and operational resilience issues.

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American Fintech Council Urges Senate to Pass Credit Access Bill to Expand Use of Alternative Data

The Fintech Times

In the letter, AFC praised the bill for offering a commonsense solution for millions of underserved Americans who manage their money effectively but still struggle to access credit.

FinTech 49
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Banks Push Back On Possible Banking Charters For Big Techs Like Amazon And Facebook

PYMNTS

That last measure aims to ensure that banks lend money and provide banking services to underserved and minority consumers. The potential for asymmetries in regulation across companies with different banking charters could produce regulatory arbitrage and undermine safety and soundness and consumer protection,” the bankers wrote. “A

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How Cryptocurrency is Shaping the Future of Payments in Canada

Clearly Payments

Focus on Consumer Protection: The government seems more focused on consumer protection and staying informed about the evolving crypto landscape. This means capital gains taxes apply when you sell crypto for a profit. The Proceeds of Crime and Terrorist Financing Act (PCMLTFA) also applies to cryptocurrency transactions.

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American Fintech Council Calls for Treasury to Back Innovation by Enhancing Regulatory AI Clarity

The Fintech Times

Through this, it hopes to help foster the responsible adoption of AI technology in the financial services sector, including technologies that reduce human biases and increase access to financial services for historically underserved communities, as well as improve the resilience of the financial services industry.