CFPB, in partnership with multiple state regulators, launched the American Consumer Financial Innovation Network (ACFIN). ACFIN is intended to enhance coordination among federal and state regulators to facilitate financial innovation.
ACFIN is intended to promote regulatory certainty for innovators and to keep pace with market innovations while helping to ensure they are free from fraud, discrimination, and deceptive practices. As a result of this partnership, ACFIN members will share information to facilitate coordination among the members and coordinate on innovation-related policies and programs. The members will meet at least once a year in an agreed-upon location and will confer via phone at least quarterly. CFPB also published the ACFIN Charter.
Keywords: Americas, US, Banking, ACFIN, Fintech, Financial Innovation, ACFIN Charter, CFPB
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EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.
ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.
OSFI published the key findings of a study on third-party risk management.
FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.