β€œBefore 2008 it was the North Atlantic system of interconnected #banks in the US and Europe that were the powder keg that ultimately exploded. Now it is a broader range of #non-bank #financialinstitutions in the US, Europe and Advanced Economy Asia that matter.” open.substack.com/pub/adamtooz...

The CFPB's plan to repeal the Nonbank Registration Rule has divided stakeholders, with industry groups praising reduced compliance costs while state regulators warn of increased risks in sectors like crypto and BNPL. ❀️ #CFPB #Compliance #consumerprotection #fintech #gigeconomy #nonbank #realtimepayments #Regulation #redrobot

https://redrobot.online/2025/05/cfpbs-proposal-to-rescind-nonbank-registry-rule-sparks-debate-over-fintech-innovation-vs-consumer-protection/

CFPB’s proposal to rescind nonbank registry rule sparks debate over fintech innovation vs. consumer protection

The CFPB's plan to repeal the Nonbank Registration Rule has divided stakeholders, with industry groups praising reduced compliance costs while state regulators

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