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jeff0brown0

Crypto and DeFi disintermediate banking in new ways, says OCC head - 1 views

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    Acting Comptroller of the Currency Michael Hsu said the agency is working with a number of other financial regulators to coordinate digital asset regulation. Regarding cryptocurrencies and decentralized finance, Hsu "said it is necessary for regulators to 'ensure that crypto/DeFi activities that take place within the banking system or are facilitated by banks are trustworthy.'" However, since most DeFi activity "takes place outside of the regulated banking system, it is unclear whether Hsu's remarks can be interpreted as reflecting OCC's aspiration to extend its purview over DeFi platforms."
jeff0brown0

DeFi - the 'Wild West' of crypto - is next on regulators' hit list - 0 views

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    After a crackdown on Binance and other cryptocurrency firms, regulators are now turning attention to the world of decentralized finance. Decentralized finance, or "DeFi," lets users take part in traditional financial activities like lending but with no middle men involved. Regulators are concerned about DeFi services marketing themselves as decentralized when that may not be the case.
jeff0brown0

Acting Comptroller of the Currency Michael Hsu Comments on Digital Asset Innovation, Co... - 0 views

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    "I have seen one fool's gold rush from up close in the lead up to the 2008 financial crisis. It feels like we may be on the cusp of another with cryptocurrencies (crypto) and decentralized finance (DeFi). The 2008 crisis holds lessons that can help industry and regulators chart a better path and avoid repeating the mistakes of the past."
jeff0brown0

Payday Loan Statistics for 2021 - Balancing Everything - 0 views

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    "Fun" facts about the current state of payday lending in the US
jeff0brown0

Payday Loan Debt Statistics in the US (updated 2021) - Credit Summit - 0 views

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    "Fun" facts about the current state of payday lending in the US
jeff0brown0

Banks beware, Amazon and Walmart are cracking the code for finance | Reuters - 1 views

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    Global Sales Brands (Mercedes, IKEA, Walmart, Amazon)-companies with extensive data about their consumers will use fintech to offer financial services to customers, profiting from good risk and pushing bad risk to banks and insurance companies. So far this year, investors have poured $4.25 billion into embedded finance startups, almost three times the amount in 2020
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    Impacts and Implications are huge...great find!
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