Federal regulators propose more flexible bank-fintech oversight
Four federal banking agencies proposed risk-based vendor oversight, but banks would remain responsible for payment disputes, fraud controls and access to funds.
Fintech
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Vanguard agrees to buy Altruist in reported $4.6 billion deal
Vanguard’s planned Altruist acquisition gives venture investors a major exit benchmark and could reshape competition in adviser custody technology.
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Federal Reserve opens comment period on proposed payment account for fintechs
The Fed is seeking comment on a limited payment account for eligible firms, a proposal that could reshape payments, competition, and oversight nationwide.