On May 26, three days into her term as Vice Chair of the Federal Reserve, Lael Brainard testified about the Federal Reserve’s Examination of the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC) before the...more
The Securities and Exchange Commission (“SEC”), under Chairman Gary Gensler, continues to propose rules at a rapid pace. Three of the most recent proposed rules would significantly impact investment advisers by:...more
Throughout 2021, the SEC followed through on its commitment to aggressively enforce the federal securities laws in digital assets markets. These efforts have resulted in the SEC sharpening its focus on cryptocurrency...more
On October 27, the North American Securities Administrators Association held its 2020 symposium on Fintech and Cybersecurity. A key theme of the symposium was the impact that the pandemic has had on fintech, cybersecurity,...more
For the first time, a U.S. fintech company is acquiring a regulated U.S. bank, which will give it access to a stable and cheaper source of funding – as well as a national bank charter.
On February 18th, LendingClub, one of...more
California and New York are taking the lead to expand consumer financial protection, in part to smooth out the ebb and flow of federal policy and enforcement at the CFPB. Within a few days of each other, Governor Gavin...more
Members of the SEC’s Strategic Hub for Innovation and Financial Technology (“FinHub”) and experts in Fintech came together on May 31st for the SEC’s public forum focusing on distributed ledger technology and digital assets. ...more