Elizabeth Lumley

3 days 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.

2 weeks 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.

2 weeks 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.

2 weeks ago | compliancecorylated.com | Elizabeth Lumley

Panellists at the fourth Crypto Task Force roundtable organised by the US Securities and Exchange Commission (SEC), generally agreed on the potential benefits of tokenisation for capital markets — namely that the technology offers clear ownership of securities and could pave the way for instant settlement. Newly installed SEC chair Paul Atkins gave the introductory keynote at the roundtable, Tokenisation: Moving assets on-chain: Where TradFi and DeFi meet.

1 month ago | compliancecorylated.com | Elizabeth Lumley

Embedded finance — the process of integrating financial services into non-financial processes — is helping small and medium-sized enterprises (SMEs) to grow through improving their customer experience and delivering payment, insurance and banking services at the point-of-need. It first rose to prominence with the rise of digital payments, regulatory changes such as Open Banking, and consumer demand for more seamless experiences.