Tagged: fta

Financial Technology Association Welcomes Fintech Pipe, the Modern Capital Platform

The Financial Technology Association (FTA) welcomed Pipe as its newest member. Pipe claims it is “the modern capital platform, built to connect entrepreneurs, and small and mid-size business owners to fast, frictionless, dilution-free financing, helping them scale and operate on their terms.” Penny Lee, President… Read More

House Subcommittee on Financial Institutions Schedules Hearing to Discuss Banking and Need to Update Regulations in Line with Emerging Technology

The House Subcommittee on Financial Institutions and Monetary Policy, part of the Financial Services Committee, will discuss banking and the need to improve the regulatory environment in light of emerging technology. The hearing, Revamping and Revitalizing Banking in the 21st Century, will review ways regulation… Read More

Financial Technology Association Selects Plaid Executive as Chair of Board

The Financial Technology Association (FTA) has selected Leigh Lytle, head of North American Policy at Plaid, as the 2023 Chair of the FTA Board of Directors. Before joining Plaid, Lytle spent more than 15 years at the Federal Reserve Bank of San Francisco. According to… Read More

CFPB Director Rohit Chopra Indicates Movement on Open Banking Rule, Financial Technology Association Welcomes Statement

Earlier today, during Money20/20, CFPB Director Rohit Chopra commented on the concept of Open Banking (or Open Finance) alongside his perspective on the CFPBs “new approach to regulation.” Chopra stated: “This week, the CFPB will launch the process to activate a dormant authority under Section… Read More

Financial Technology Association Hires New Head of Policy

The Financial Technology Association (FTA) has hired a new Head of Policy and Government Relations, according to a release. The FTA has appointed Angelena Bradfield to help guide the association’s regulatory and legislative efforts. Bradfield previously was Senior Vice President for AML/BSA, Sanctions and Privacy… Read More

CFPB on BNPL: Uneven Disclosures and Protection for Consumers

The Consumer Financial Protection Bureau (CFPB) has published a report on the buy now – pay later (BNPL) industry, criticizing the sector of Fintech as having “uneven disclosure and protections” for borrowers. The CFPB noted that BNPL rocketed higher by almost 10X the amount in… Read More

Financial Technology Association Posts Research on BNPL: A Positive Force for Users

The Financial Technology Association (FTA) has posted research on the Buy Now Pay Later (BNPL) sector that highlights the positives of the Fintech service. The survey, created in partnership with the Morning Consult, arrives on the same day that the Senate Banking Committee held a… Read More

PayPal, Intuit, Join Financial Technology Association

PayPal (NASDAQ:PYPL) and Intuit (NASDAQ:INTU) are the newest members of the Financial Technology Association (FTA) according to a statement by the group. The two big tech firms join a growing roster of Fintechs aiming to have their voices heard inside the beltway. Names like Block,… Read More

The Financial Technology Association Comments on Potential Changes to the Community Reinvestment Act

The Financial Technology Association (FTA) has issued a statement regarding potential changes to the Community Reinvestment Act (CRA). The CRA is a law that seeks to encourage financial institutions to serve diverse communities, including low and moderate-income neighborhoods. Recently, several federal institutions, including the FDIC,… Read More

FinTech Automation Teams Up with Mastercard for Open Banking

Fintech Automation (FTA) announces it has been “selected as one of the technology partners for open banking within Mastercard’s Engage partner network.” The Engage program has “developed a network to provide businesses easy access to technology partners that can quickly build and deploy open banking… Read More

Financial Technology Association Comments on CFPB Review of “Junk Fees,” Like Bank Overdraft Charges

The Financial Technology Association (FTA) submitted a comment regarding the Consumer Financial Protection Bureau (CFPB)’s request for feedback on “junk fees” that drive up the cost of goods and services, including financial services. The FTA letter states that many of their members launched to target… Read More

MoneyLion Joins Financial Technology Association

The Financial Technology Association (FTA) has added MoneyLion to its roster of members. MoneyLion is a mobile banking app or neobank that provides services in partnership with MetaBank. The FTA advocates on behalf of the growing Fintech sector providing an important voice within the District… Read More

Financial Technology Association Defends BNPL Platforms as CFPB Finishes Consultation

The Financial Technology Association (FTA) has submitted a comment letter in response to the Consumer Financial Protection Bureau’s (CFPB) review into Buy Now Pay Later (BNPL) platforms. The FTA represents several BNPL providers including Afterpay, Figure, Klarna, Sezzle, and Zip. Last  December several Democrat Senators… Read More

Financial Technology Association CEO Says BNPL Hampered by Misinformation, Provides Benefits to Consumers

Financial Technology Association (FTA) CEO Penny Lee has published an Op-Ed on Buy Now-Pay Later (BNPL) services a Fintech service that has suffered from “misinformation.” BNPL services are frequently at the point of sale when a purchaser is given the option for credit to pay… Read More

Financial Technology Association Issues Statement on Confirmation of CFPB Director Rohit Chopra

This week, Rohit Chopra was confirmed as the next Director of the Consumer Financial Protection Bureau (CFPB). The CFPB is a relatively new financial regulator created as part of the Dodd-Frank legislation that emerged following the great recession. The mission of the CFPB is to… Read More

Financial Technology Association Creates Advisory Board, Adds Top Fintech Experts to Guide Strategy

The Financial Technology Association (FTA) announces the formation of an advisory board. The new board will help guide the nascent group’s mission to proactively guide regulation and policy in the booming Fintech sector. Founded in March, the FTA has moved quickly to boost its ranks… Read More

As Fintech Industry Matures, the Need for Policy Advocacy Grows: OLPI and MPL Merge to Form American Fintech Council

Financial technology or Fintech has been growing at a rapid pace for years now. Starting with online capital formation, today a growing number of sophisticated financial services are going through a much-needed. digital transformation. This can mean better/cheaper access to services for more consumers and… Read More

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