September 15, 2017
Stroock Special Bulletin
By: Quyen T. Truong, Julia B. Strickland
The Consumer Financial Protection Bureau (CFPB) yesterday issued its first ever No-Action Letter (NAL) through its Project Catalyst initiative, and the industry – particularly entities in the realm of emerging financial technologies (FinTech) – are looking to determine what it may herald for the future. As discussed in this bulletin, the NAL is less of a harbinger of the agency’s intent to provide regulatory relief to the FinTech sector, than a confirmation of its continuing exploration of alternative data as a mean to increase the availability of credit to underbanked populations, which could prove highly beneficial to the industry.
Download the full article to read more.
September 15, 2017
Stroock Special Bulletin
By: Quyen T. Truong, Julia B. Strickland
The Consumer Financial Protection Bureau (CFPB) yesterday issued its first ever No-Action Letter (NAL) through its Project Catalyst initiative, and the industry – particularly entities in the realm of emerging financial technologies (FinTech) – are looking to determine what it may herald for the future. As discussed in this bulletin, the NAL is less of a harbinger of the agency’s intent to provide regulatory relief to the FinTech sector, than a confirmation of its continuing exploration of alternative data as a mean to increase the availability of credit to underbanked populations, which could prove highly beneficial to the industry.
Download the full article to read more.
