The Consumer Financial Protection Bureau (CFPB) announced on Friday, July 26, that it will propose new rules on how third parties can access consumer financial records later this year.
Read MoreIn an embarrassing gut punch to Facebook, from the Brazilian central bank Tuesday suspended WhatsApp payments barely a week after the service launched in the country. The regulator said rolling out the payments service without prior analysis could damage the payments system from a competition, efficiency and data privacy point of view.
Read MoreNow, instead of just prosecuting big tech, Europe is looking to compete with them.
Read MoreIt seems the only thing Congress can agree on is its dislike of big tech.
Read MoreIn a recent panel talk at Davos (where else?), Salesforce’s co-CEO Keith Block advocated for a national data privacy law in the U.S.
Read MoreBig tech seems to be having some tax woes lately, from the efforts of EU antitrust authorities to recover what they say are tens of billion in back taxes to the new “digital tax” imposed by France and a court case that could impact multinationals.
Read MoreSmaller enterprises typically do not have the budgets that large organizations do, and thus have to come up with unique ways to compete in the marketplace. In this vein, the Department of Labor released what we think is a very smart rule this week.
Read MoreThe 2017 data breach at Equifax, was one of the largest in history. Now it will go down as the costliest. While this all sounds well and good as a headline, we hope much of this money will go to affected consumers.
One of the enduring memories of the Obamacare rollout in 2013 was the extreme tech issues with its website, Healthcare.gov. California officials hope a similar fate doesn’t derail its ambitious new data privacy law, set to go into effect at the beginning of next year.
Read MoreIn light of Michael Cohen’s conviction and prison entrée on May 6, we thought we’d share a fascinating story from Institutional Investor on what white collar criminals and Wall Streeters face in prison. Since the 80s and the height of the “greed is good” era, there has been a perception that the minimum security prisons that white collar felons go to are more akin to hotels (think “Club Fed”).
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.
