The FDIC is keeping a close eye on nonbank financial companies, including technology startups, and how they’re affecting banks, American Banker reported. FDIC Chairman Martin Gruenberg told an audience at a Risk Management Association conference in Washington, D.C., on Monday (Oct. 27) that “the impact...
August 16, 2022
In a policy letter that read like part announcement and part warning, the Consumer Financial Protection Bureau (CFPB) put FinTechs on notice in April, with CFPB Director Rohit Chopra saying a little-used provision of the Dodd-Frank Act is now being employed to scrutinize nonbanks more tightly. “Given the rapid growth of consumer offerings by nonbanks, […]
October 29, 2014
The FDIC is keeping a close eye on nonbank financial companies, including technology startups, and how they’re affecting banks, American Banker reported. FDIC Chairman Martin Gruenberg told an audience at a Risk Management Association conference in Washington, D.C., on Monday (Oct. 27) that “the impact of the nonbanking sector on the insured sector — the […]
