Tagged: american fintech council

October 30, 2024 @ 9:46 am By JD Alois  |  

American Fintech Council (AFC) has submitted a comment letter in response to the joint Request for Information on Bank-Fintech Arrangements. The interagency RFI includes the FDIC, OCC and Federal Reserve. The letter states that it is important for these agencies to understand that not all… Read More

August 26, 2024 @ 8:44 am By JD Alois  |  

The American Fintech Council (AFC) is continuing its expansion of members joining the advocacy group with Minnesota-based Stearns Bank. The bank was founded in 1912 with physical locations in Minnesota, Florida and Arizona. Stearns reports assets of around $3.2 billion. The bank is independently owned… Read More

August 5, 2024 @ 10:45 am By JD Alois  |  

The American Fintech Council (AFC) has issued a statement on the bipartisan letter sent by a group of House Representatives asking the Consumer Financial Protection Bureau to adjust requirements pertaining to control of consumer data along the lines of Open Banking. The AFC says they… Read More

July 31, 2024 @ 11:43 am By JD Alois  |  

The American Fintech Council (AFC) keeps adding new Fintechs to its roster of members. Today, MoneyLion (NASDAQ:ML) has joined the group that seeks to advocate on behalf of the burgeoning Fintech sector. Phil Goldfeder, Chief Executive Officer of AFC, said MoneyLion empowers millions to take control… Read More

June 8, 2024 @ 9:30 pm By Tony Zerucha  |  

The American Fintech Council (AFC), an industry association representing Fintech companies and banks, applauded the Office of the Comptroller of the Currency (OCC) on the expansion of REACh 2.0 and continued commitment to collaboration. The AFC said the agency has continued its pragmatic approach to… Read More

June 1, 2024 @ 10:38 am By Tony Zerucha  |  

The American Fintech Council, an association representing Fintech companies and BaaS banks, has submitted a response to the US Department of Treasury, Financial Crimes Enforcement Network (FinCEN) Request for Information (RFI) related to existing requirements for banks under the Customer Identification Program (CIP) Rule. The… Read More

May 23, 2024 @ 10:44 am By JD Alois  |  

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule impacting buy now pay later (BNPL) providers. BNPL providers have emerged as a popular alternative to credit cards, as their interest rates are typically lower than credit cards. At the same time, many platforms… Read More

May 21, 2024 @ 12:31 pm By Tony Zerucha  |  

The American Fintech Council, an industry association representing fintech companies and BaaS banks, announced this week that Raido Capital Partners became their newest strategic partner. “Raido delivers a unique perspective and the hands-on approach that currently serves their portfolio companies and will now serve as… Read More

May 13, 2024 @ 12:01 pm By Tony Zerucha  |  

This week, the American Fintech Council, an industry association representing fintech companies that deliver critical access to safe and affordable financial services, issued a statement supporting the Joint Agency Third Party Risk Management Guide for Community Banks, a document that helps community banks navigate fintech… Read More

May 3, 2024 @ 2:22 pm By Tony Zerucha  |  

The American Fintech Council (AFC), an industry association representing Fintech companies, including the largest earned wage access (EWA) providers, has joined with members in a letter to the South Carolina House Committee on Labor, Commerce and Industry endorsing legislation to regulate the burgeoning financial service… Read More

April 23, 2024 @ 12:11 pm By JD Alois  |  

The American Fintech Council (AFC) has sent a letter to the FDIC [Federal Deposit Insurance Corporating] for its activity directed towards innovative financial services firms. The letter, signed by Phil Goldfeder, CEO of AFC, claims the FDIC has “systematically changed its posture towards innovation,” utilizing… Read More

April 22, 2024 @ 6:58 am By Tony Zerucha  |  

The American Fintech Council, an industry association representing fintech companies, BaaS banks and credit unions, announced this week that Continental Finance has become its newest member. Continental Finance works to provide a variety of services to customers who have been long forgotten by traditional financial… Read More

April 10, 2024 @ 6:45 am By Tony Zerucha  |  

The American Fintech Council, an industry association representing fintech companies and banks, this week added the Center for Accelerating Financial Equity (CAFE) as their latest strategic partner. Located at the Fintech Innovation Hub by Delaware Tech Park on the University of Delaware campus, CAFE is… Read More

April 3, 2024 @ 10:52 am By JD Alois  |  

The American Fintech Council (AFC) has added ZayZoon as a member. ZayZoon was founded in 2014 and it is a Fintech that provides Earned Wage Access (EWA) for small and mid-sized businesses. Phil Goldfeder, Chief Executive Officer of the AFC, said that ZayZoon is a… Read More

March 29, 2024 @ 8:20 am By Tony Zerucha  |  

The National Association of Industrial Bankers (NAIB), the American Financial Services Association (AFSA) and the American Fintech Council (AFC) filed a lawsuit in federal court this week, challenging a new Colorado statute they claim violates federal law by imposing interest-rate and fee caps on loans… Read More

March 23, 2024 @ 8:10 am By Tony Zerucha  |  

The American Fintech Council (AFC), an industry association representing Fintech companies and banks, this week announced that financial benefits platform Wagestream has become its newest member. “Wagestream has done a phenomenal job of scaling its financial wellbeing approach to span multiple different benefits for workers,… Read More

March 18, 2024 @ 8:44 am By Tony Zerucha  |  

The American Fintech Council (AFC), an industry association representing fintech companies and banks, delivered testimony before the Rhode Island Senate Committee on Commerce and Policy and the D.C. Council Business and Economic Development Committee opposing recently introduced legislation. Phil Goldfeder, AFC CEO and former member… Read More

March 4, 2024 @ 2:04 pm By Tony Zerucha  |  

The American Fintech Council (AFC) last week spoke about proposed legislation in Maryland and Minnesota, while CEO Phil Goldfeder also commented on the reintroduction of the Financial Services Innovation Act. The week began with the AFC supporting the Maryland Commercial Financing – Small Business Truth… Read More

February 16, 2024 @ 5:14 pm By Tony Zerucha  |  

Neobank Dave this week announced it has joined the American Fintech Council, an industry association representing fintech companies and banks. Dave partners with Evolve Bank & Trust, an FDIC member. “Our members are setting the standard for the responsible use of innovation to increase competition in… Read More

February 9, 2024 @ 4:23 pm By Tony Zerucha  |  

The American Fintech Council (AFC), an association representing Fintech companies, has requested that the Consumer Protection Financial Bureau (CFPB) immediately convene relevant stakeholders for a comprehensive conversation on EWA products and consideration of formal rulemaking. “Director Chopra and the CFPB have been thoughtful partners and… Read More