Weekly Fintech Focus
FDIC issues an updated brokered deposit rule, creating new exceptions relevant to fintechs working with bank partners.
FDIC issues a final rule clarifying its expectations for ILC charter applications.
CFPB issues an advisory opinion on Special Purpose Credit Programs to clarify how creditors can offer these programs to disadvantaged groups.
CFPB grants access to its compliance assistance sandbox to an earned wage access company, which meets the CFPB’s recent guidance on such programs.
PayPal wins the first round in its efforts to throw out aspects of the CFPB’s prepaid rule, resulting in a court throwing out certain mandatory disclosures and the 30-day waiting period for digital wallets.
Tech giant Google on Thursday said it has reviewed hundreds of personal loan apps in India that were flagged by users and government agencies and those found to be violating its user safety policies were immediately removed from its Play Store.
Google has asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations, failing which those apps will also be removed. Providing a safe and secure experience across Google s products is our top priority. Our global product policies are designed and implemented with this goal in mind, and we re always working to improve our practices to enhance user safety, Google said in a blogpost.
Read more about UBS fund pursues $400 million stake in SoftBank-backed Paytm: Report on Business Standard. UBS aims to finalize an agreement as soon as this month
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