Elizabeth Lumley

1 week ago | compliancecorylated.com | Elizabeth Lumley

Embedded finance may seem new but, as a panel at London Tech week revealed, some banks have been doing it for 50 years. Joshua Fabian-Miller, managing director for credit at Currys, highlighted the company’s banking partner, BNP Paribas, as critical to the UK electronics retailer being able to offer customers credit products, and to scale its business in a compliant way.

1 week ago | compliancecorylated.com | Elizabeth Lumley

Speakers at the US Securities and Exchange Commission‘s (SEC) final Crypto Task Force roundtable posited that decentralised finance (DeFi) is not only an improvement to the current regulatory framework, but also compatible with core American values.

3 weeks ago | compliancecorylated.com | Elizabeth Lumley

The US Department of the Treasury is planning to ease the compliance burden on community banks by reducing regulatory requirements. Generally serving small towns and rural areas in the US, community banks represent around 90% of banks operating in the country. They account for about 11% of all Federal Deposit Insurance Corporation (FDIC)-insured banking assets and 15% of loans, according to Morningstar DBRS.

1 month ago | compliancecorylated.com | Elizabeth Lumley

When the Consumer Financial Protection Bureau (CFPB) ruled to implement Section 1033 of the Dodd-Frank Act in late 2024, proponents of open finance in the US were hopeful that the disparate institutional approaches to allowing customers to benefit from their own data would soon align. The subsequent gutting of the CFPB has, however, prompted insurers to reconsider their initial optimism. Until then, the US had relied on market forces to deliver open banking, finance and insurance.

1 month ago | compliancecorylated.com | Elizabeth Lumley

When the Consumer Financial Protection Bureau (CFPB) ruled to implement Section 1033 of the Dodd-Frank Act in late 2024, proponents of open finance in the US were hopeful the disparate institutional approaches to allowing customers to benefit from their own data would soon align. The subsequent gutting of the CFPB has, however, prompted insurers to reconsider their initial optimism. Until then, the US had relied on market forces to deliver open banking, finance and insurance.