On April 4, Wisconsin enacted SB 668 (the “Act”) which will amend many provisions to the Wisconsin Department of Financial Institution’s (DFI) regulation of non-banks. According to an analysis by the state’s Legislative Reference Bureau, the Act will change how multiple financial practices are regulated and rely on the Nationwide Multistate Licensing System and Registry (NMLSR).
The real estate market is experiencing a slight rise in foreclosure activity following an extended period of moratoria that paused any foreclosures during the pandemic.
PYMNTS Intelligence, in delving into the mindset of more that 200 credit union (CU) executives and more than 100 FinTech executives, found a bit of bifurcation in how these providers think about consumers who were born between the years 1981 to 1996 and who are now in their late 20s to early 40s.
Colorado is the latest state to introduce a bill focused on consumer protection issues when company’s develop AI tools. The bill imposes obligations on developers and deployers of AI systems.
In February 2024, the Federal Deposit Insurance Corporation (FDIC) entered into consent orders (here and here) with two banks who partner with fintechs to offer “banking as a service” (BaaS) related to safety and soundness concerns relating to compliance with the Bank Secrecy Act (BSA), compliance with applicable laws, and third-party oversight.
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