In late February, the Consumer Finance Protection Bureau (CFPB) released updated “Rules of Practice for Adjudication Proceedings.” The amended process lets the CFPB avoid backlogged federal courts in favor of administrative courts.
Read MoreAgrotoken, an Argentinian startup tokenizing grain by the ton through cryptocurrency, announced that its soy-, corn- and wheat-backed coins will be accepted as collateral by Santander. Agrotoken has also launched a 1,000-farmer test with Santander.
Read MoreAfter a series of IPOs and significant fundraising deals, fintechs are poaching junior bankers to evaluate and negotiate M&As internally. Banking giants increasingly see fintechs and other startups as talent competitors.
Read MoreClimate fintech funding rose to $1.2B in 2021, according to CommerzVentures. Carbon accounting attracted the most funding, raking in $410M last year.
Read MoreThe first, QuickBooks Get Paid Upfront, lets small businesses apply for an advance up to $30,000 for qualifying invoices; the second, QuickBooks Early Pay, lets employees paid through QuickBooks Online Payroll access earnings between paydays.
Read MoreBy letting small and midsize businesses (SMBs) issue instant cards to vendors, Mastercard looks to reduce payment cycle times to one day.
Read MoreLate last week, the Federal Reserve released a 40-page report on the potential creation of a digital U.S. dollar, inviting explicit policy guidance from the White House and Congress.
Read MorePayment-processing platform Stripe announced a five-year contract with Ford Motor Company: an effort to revamp the automotive giant’s e-commerce strategy.
Read MoreBrett Harrison, President of FTX US, said new trading features could be rolled out within two months; Bitstamp did not provide a tentative timeline.
Read MoreOver the past year, more than 40 Microsoft employees working on augmented-reality technologies have been poached by Meta, which has poured billions into metaverse initiatives.
Read MoreSpeed is an oft-cited cultural difference between traditional financial service companies and their fintech counterparts, especially start-ups. And that’s a big benefit fintechs say they can offer the U.S. government as it prepares to dole out the stimulus payments enacted under the $2 trillion CARES Act.
Read MoreAs our ongoing “200 Financial Revolutionists” series honors leading financial innovators during the coming months, we also lost a leading light of finance and economics this week. Former Fed chairman Paul Volcker passed away at age 92.
Read MoreThe stunning rise and fall of WeWork that has played out over the course of this year seemed to end with a whimper this week.
Read MoreMinutes released this week from the latest Fed meeting show there are sharp divisions among members when it comes to future policy. On a broad level, the most recent rate reduction comes amidst a global trend of cutting interest rates.
Read MoreNew York may rank number one in the world as a competitive financial center, but it’s 41st in “green finance.”
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
