Amid recent scrutiny and enforcement activity in the banking-as-a-service (BaaS) space, federal regulators have issued a joint statement reiterating the importance of banks’ oversight of certain third-party relationships through sound risk management practices.

The Chamber of Commerce and other trade groups challenging the Consumer Financial Protection Bureau’s credit card late fee cap are accusing the agency of trying to funnel all regulatory challenges to the federal district court in Washington.

The FDIC’s latest oversight of fintech and bank relationships, this time a proposal for brokered deposits, sometimes referred to as “hot money”, leaves many in the financial services industry critical that regulators are targeting the wrong issues even as they aim for fairness in modern banking. And, some critics add, Washington with piecemeal action is delaying a wholesale review of equitably governing expanding fintech and banking relationships.

In am Aug. 12 comment letter to Treasury Secretary Janet Yellen, the CFPB outlined its approach to regulating AI and other emerging technologies in the financial sector. The agency emphasized that innovation must not come at the expense of consumer protection or fair competition.

Five Key Questions for the Fed at Jackson Hole - Should monetary policy be more preemptive? Should the inflation target be higher? Should the Fed change the inflation target to a range? How and when should the Fed engage in the asset purchases known as quantitative easing? Should the Fed stop targeting the federal funds rate?

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About 45,000 retail stores may close in the coming years as retail’s physical footprint increasingly shifts to serve as fulfillment and distribution centers...third-party players like Temu and Shein are positioned to drive further e-commerce penetration without the overhead of managing and maintaining a physical footprint.

This episode of Capitalism and Freedom in the Twenty-First Century discusses economic growth, artificial intelligence, and the future of work.

So-called ‘creditor on creditor violence’ has reached such a pitch that funds are wagering tens of billions of dollars on taking advantage of the mayhem.

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While today's consumer feels their primary financial services organization understands their digital experience, they want more, such as 24/7 customer service, a better online account opening process, and their speed and security concerns addressed.

As a long-time admirer of General Patton, I found this article a useful exploration of his use of information and intelligence long before we had computers to systematically collect and analyze information. He viewed information as critical to “Gaining the Initiative, Anticipating Decisions, and Managing Risk”, much as we are still trying to do today.