TFU | Dec. 16 – 22

Final Update for 2019, returning 1/6/2020 Dear readers, this will be our final edition of the year decade! Thank you, as always, for your continued interest and support of this newsletter, and we look forward to another great year ahead. Warmest wishes to all for a happy and healthy holiday season—and see you again in…

TFU | Nov. 25 – Dec. 8

Five federal financial regulators jointly published a statement supporting the use of alternative data in making credit worthiness decisions; Robinhood decided to halt its application for a special purpose national bank charter from the OCC; Goldman is ratcheting down its expansion plans for Marcus in the U.K. over concerns about its compliance burden; the NYDFS approved SoFi’s application for a BitLicense; Chime raised $500M in new funding; and Bloomberg explores how some of the Bay Area’s buzziest fintechs are growing their operations in New York.

TFU | Nov. 18 – 24

Dear readers, we will be off next week in celebration of Thanksgiving in the U.S. (read: we expect to be in a four-day turkey-induced food coma). To those of you in the U.S., warmest wishes for a happy Thanksgiving!; and to everyone, best wishes for a good week ahead. We’ll return on December 9th. Best,…

TFU | Nov. 11 – 17

Leading Off Google will begin offering checking accounts to users through a partnership with Citi and a Stanford University credit union; Facebook announced its new Facebook Pay P2P payments service; FinCEN Director Kenneth Blanco discussed the applicability of the “travel rule” to crypto firms; the Fed highlighted the risks posed by stablecoins in its November…

TFU |Nov. 4-10

FTC Commissioner Rohit Chopra encouraged the Fed on its proposed FedNow Service; the NYDFS is investigating Apple Card’s algorithms for gender discrimination; a glitch gave some Robinhood users access to “infinite leverage”; Nasdaq implemented AI monitoring; Ireland’s DPC is investigating Revolut over concerns about its new privacy policy; and Vanity Fair explored the robbery of an Icelandic Bitcoin mining facility.

TFU | Oct. 14-20

Global regulators, including FATF and the FSB, weighed in on the risks posed by stablecoins; the U.S. government is reportedly considering creating its own cryptocurrency; EU regulators are looking into potential antitrust violations by Apple Pay; the FT brought new evidence of fraudulent accounting practices at Wirecard; Venmo will launch its first credit card; Revolut is looking to raise $1.5B in debt and equity; and digital bank Chime experienced a service disruption affecting millions.