LENDIT FINTECH USA 2020 – MAY 13 – 14, 2020 LendIt Fintech USA 2020 returns to NYC as they host the world’s largest fintech networking event. Over 5,000+ fintech innovators, investors, commercial and regional banks, service providers, enterprise tech companies, the media, and government officials will gather for two days of networking, learning and deal-making. Save 15% on your registration with code DC15%
The fintech industry is one of the most visibly disruptive sectors since it can dramatically impact everyday consumers as well as the business of all sizes. It’s also potentially a highly regulated sector, with governments and regulators well aware of the need to both protect consumers and businesses, and to provide a fair, competitive environment for industry players. At the same time, governments don’t always agree on how exactly to regulate this rapidly changing industry. Coupled with intense competition from traditional, established banks and financial services providers, along with constant technological developments, this makes for a volatile, exciting sector to watch. So what do 2020 and the coming decade have in store for fintech and traditional banking and financial services?
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Yesterday, NAFCU Director of Regulatory Affairs Ann Kossachev, Senior Regulatory Counsel Elizabeth LaBerge, and Regulatory Affairs Counsel Mahlet Makonnen met with the Federal Trade Commission’s Bureau of Consumer Protection, Division of Privacy and Identity Protection to discuss data privacy and safeguards under the Gramm-Leach-Bliley Act (GLBA), among other things.
(Reuters) – A contingent of aggrieved Wells Fargo & Co (WFC.N) workers are taking complaints to Capitol Hill, saying they feel brushed aside by management. On March 25, an advocacy group called The Committee for Better Banks will participate in a House Financial Services Committee hearing titled “Holding Wells Fargo Accountable: Examining the Impact of the Bank’s Toxic Culture on Its Employees.” Two bank workers plan to testify. In a statement, Wells Fargo spokesman Mark Folk said management takes their concerns seriously.
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The operator of a debt collection scheme has settled claims by the Federal Trade Commission and New York Attorney General that he and the companies he controlled lied to consumers about how much debt they owed and used illegal scare tactics to collect it. Under the settlement, Robert Heidenreich, who ran the scheme from the Buffalo, N.Y. area, is permanently banned from the debt collection business and prohibited from misleading consumers about any financial products. The FTC filed its complaint in the case in October 2018.