Fintech Focus For December 2, 2021

One Big Thing In Fintech: The Consumer Financial Protection Bureau (CFPB) is enhancing its enforcement scrutiny of banks that are “heavily dependent” on overdraft and non-sufficient funds (NSF) fees after research by the government watchdog found banks pulled in an estimated $15.47 billion in 2019 via these penalties.

Source: FinLedger

Other Key Fintech Developments:

• BNPL Simpl adds $40M raise.
• iOL Pay expanding payments.
• Republic is acquiring Seedrs.
• Unpacking IBAN in a new era.
• MS, Greenlight partnering up. MS
• QuantaVerse enhances offer.
• IDEX alleviates DeFi failures.
• Square has changed its name. SQ
• Blue Ocean launches system.
• FTX added ETH NFT support.
• 1inch adds $175M in funding.
• CLASSIQ, NTT collaborating.
• Bankjoy launching a platform.
• CEX.IO adds new executives.
• QI, Symphony partnering up.
• Nasdaq is migrating to cloud. NDAQ
• Bitfinex added multi-screens.
• Nadex, Small Exchange sold.
• AWS and Goldman partnering. AMZN GS
• Enjin added new partnerships.
• Fintel and Capital IQ team up.
• Congress to host crypto execs.
• Ubiquity to expand to LATAM.
• iVest+, TRADEway partner up.
• Structure adds $20M for DeFi.
• Moonwalk unveils NFT wallet.
• HSBC targets younger clients. HSBC
• CertiK adding an $80M round.
• Voyager interviewed Ava Labs. VYGVF
• Obsidian, Steadily partner up.
• TIFIN is buying Qualis Capital.
• Octamile comes out of stealth.

Watch Out For This: Gary Gensler, chair of the US Securities and Exchange Commission, said innovations around crypto and decentralized finance will not persist outside the public policy framework.

Source: Markets Media

Interesting Reads:

• Trading meme stock volatility.
• Markets plotting move to T+1.
• Fintech stocks look attractive.
• Fed may speed stimulus cuts.
• SMB lending is behind trends.

Market Moving Headline: Hedge funds, which use borrowed money to amplify returns, have gone risk-off in a major way just as the S&P 500 endured its biggest two-day rout since October 2020. Net leverage, a measure of industry risk appetite that takes into account long versus short positions, fell to a one-year low this week, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage.

Source: Bloomberg