An interesting mix of news this week as we have many developments on the digital currency front, we have DeFi news in the mainstream media, overdraft fees are being abandoned, and of course, we have IPO news and fundraises. Here are what I consider to be the top 10 most important fintech news stories of the past week.
Second Circuit overturns challenge to OCC fintech charter from Banking Dive – Three judges on the Second Circuit reversed the 2019 decision that said the OCC lacked authority to offer the fintech charter. It might be a moot point now as so many fintechs are going the full bank charter route but it is a victory nonetheless.
Why more banks are weaning themselves off overdraft fees from American Banker – The overdraft fee has been a pet peeve of mine for a long time and you can see the impact that the digital banks are having as more traditional banks are foregoing this punitive measure. Ally Bank is the latest to end overdraft fees.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.