One Big Thing In Fintech: The Consumer Financial Protection Bureau (CFPB) is enhancing its enforcement scrutiny of banks that are “heavily dependent” on overdraft and non-sufficient funds (NSF) fees after research by the government watchdog found banks pulled in an estimated $15.47 billion in 2019 via these penalties.
Other Key Fintech Developments:
- BNPL Simpl adds $40M raise.
- iOL Pay expanding payments.
- Republic is acquiring Seedrs.
- Unpacking IBAN in a new era.
- MS, Greenlight partnering up. (NYSE:MS)
- QuantaVerse enhances offer.
- IDEX alleviates DeFi failures.
- Square has changed its name. (NYSE:SQ)
- Blue Ocean launches system.
- FTX added ETH NFT support.
- 1inch adds $175M in funding.
- CLASSIQ, NTT collaborating.
- Bankjoy launching a platform.
- CEX.IO adds new executives.
- QI, Symphony partnering up.
- Nasdaq is migrating to cloud. (NASDAQ:NDAQ)
- Bitfinex added multi-screens.
- Nadex, Small Exchange sold.
- AWS and Goldman partnering. (NASDAQ:AMZN) (NYSE:GS)
- Enjin added new partnerships.
- Fintel and Capital IQ team up.
- Congress to host crypto execs.
- Ubiquity to expand to LATAM.
- iVest+, TRADEway partner up.
- Structure adds $20M for DeFi.
- Moonwalk unveils NFT wallet.
- HSBC targets younger clients. (NYSE:HSBC)
- CertiK adding an $80M round.
- Voyager interviewed Ava Labs. (OTC:VYGVF)
- Obsidian, Steadily partner up.
- TIFIN is buying Qualis Capital.
- Octamile comes out of stealth.
Watch Out For This: Gary Gensler, chair of the US Securities and Exchange Commission, said innovations around crypto and decentralized finance will not persist outside the public policy framework.
Source: Markets Media
- Trading meme stock volatility.
- Markets plotting move to T+1.
- Fintech stocks look attractive.
- Fed may speed stimulus cuts.
- SMB lending is behind trends.
Market Moving Headline: Hedge funds, which use borrowed money to amplify returns, have gone risk-off in a major way just as the S&P 500 endured its biggest two-day rout since October 2020. Net leverage, a measure of industry risk appetite that takes into account long versus short positions, fell to a one-year low this week, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage.