In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of Financial Institutions (DFI) to expand use of the Nationwide Multistate Licensing System and Registry (NMLS) across license types, modernizes money transmission laws, and revises the regulation of consumer lenders, collection agencies, check sellers, payday lenders, community currencies exchanges, sales finance companies, adjustment service companies, and insurance premium companies.… Continue Reading
Tomorrow, the House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Inclusion will hold a hearing entitled “Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape the Future of Financial Services.” The witnesses will be:
- Valerie A. Szczepanik, Director of the Strategic Hub for Innovation and Financial Technology (FinHub), Securities and Exchange Commission
- Donna Murphy, Acting Deputy Comptroller for the Office of Financial Technology and Deputy Comptroller for Compliance Risk Policy, Office of the Comptroller of the Currency.
This Wednesday, September 20th at 10:00AM ET, the U.S. Senate Committee on Banking, Housing, and Urban Affairs is scheduled to hold a hearing on “Artificial Intelligence in Financial Services.” Currently scheduled to speak are: Ms. Melissa Koide, Director and CEO, FinRegLab, former Deputy Assistant Secretary for Consumer Policy, U.S. Department of the Treasury; Mr.… Continue Reading
Congresswoman Maxine Waters, the new Democratic Chairwoman of the House Financial Services Committee, announced that the Democratic Committee members indicated below will serve as Subcommittee Chairs. In addition to creating a new Subcommittee on Diversity and Inclusion, Politico has reported that Ms. Waters is expected to create a new fintech task force.… Continue Reading