American Fintech Council

Cool? Yes very cool to see Sheppard Mullin Richter & Hampton LLP sponsoring this week's AFC Weekly News Wrap! ?? American Fintech Council Moorari Shah Mehul Madia Phil Goldfeder Ian P. Moloney Hayden Cole Taylor McCarthy, CEM, CMP #fintech #banking #bankparterships

We welcome and appreciate remarks this week by #NellieLiang, Under Secretary for Domestic Finance?at U.S. Department of the Treasury at the Payments Symposium hosted by the Federal Reserve Bank of Chicago. "AFC supports the goals of creating a federal framework for nonbank payment service providers and developing a unified approach to regulations in the payments space. The development of novel payments innovations with national and international applications necessitates a federal regulatory framework," said Ian P. Moloney, Senior Vice President, Head of Policy and Regulatory Affairs. "AFC is encouraged by the U.S. Department of the Treasury’s efforts to modernize the regulatory environment within the payments space. We believe that developing a federal regulatory framework for nonbank payment service providers will ensure that responsible innovation can continue to flourish both domestically and abroad." #Payments #Fintech ?? READ more: https://lnkd.in/eByAJpyu

We have expanded our partnership with Center for Accelerating Financial Equity (CAFE) to include the companies that were selected as part of the #CAFE Fintech Accelerator Program! The CAFE Fintech Accelerator Program aims to support and scale revolutionary fintech businesses that prioritize financial inclusivity and innovation and we are happy to welcome the cohort which includes Prismm, Odynn, Salus, Kredit Academy, Carvertise and Giving Credit! The expanded partnership between AFC and CAFE will offer startups within the program access to a unique slate of AFC member benefits. This initiative underscores both organizations’ commitment to advancing financial equity through innovation and will expand their joint impact on the future of the financial services industry. “Being a part of the CAFE Fintech Accelerator has already been transformational for Prismm. The program’s focus on financial equity aligns perfectly with our mission to empower families by simplifying wealth transfer,” said Martha Underwood CEO of Prismm. “With the added partnership with the American Fintech Council, we will gain access to invaluable industry insights and a network that amplifies our impact. Together, we’re creating a future where financial security is accessible to all, and redefining what it means to leave a legacy.” ?? Read More: https://lnkd.in/egehA7eE

Ensuring lending remains fair and navigating #compliance in #bank #fintech #partnerships is critical to a responsible future of finance and the topic of our next webinar!! Register Here: https://lnkd.in/eRkxsmJr Join an expert panel of Moorari Shah, Partner Sheppard Mullin Richter & Hampton LLP, ??Colin Darke CEO of complisun, Kareem Saleh CEO of FairPlay AI, Benjamin Melnicki Chief Compliance Officer at Cross River and Sarah Fernandez, AAP, CIPP/US, CRCM from Kaufman Rossin for a webinar exploring the critical role of fair lending model validation in the evolving landscape of fintech and sponsor bank relationships. Innovative banks and their fintech partners have shown that they can effectively serve underserved communities and create critical #access to #safe and #afffordable credit. However, as regulatory scrutiny intensifies, understanding #FairLending compliance is essential for both banks and fintech companies. What exactly fair lending model validation is and how trust and accountability can be fostered between traditional banks and fintech companies. They will also touch on fair lending issues in marketing and how fair lending model validation intersects with the requirements of Section #1071 and what it means for small businesses seeking credit. Register NOW: https://lnkd.in/eRkxsmJr

He may not be wearing a cowboy hat yet, but Ian P. Moloney is heading to #Texas and we are certain he will come home with one! We will be in #SanAntonio for the 27th Annual Subchapter S Bank Association Conference! Excited to collaborate and talk about #responsible #innovation in financial services and discuss best practice and path forward! Come by and say #howdy!

Footprint is a cutting-edge identity verification platform that helps financial institutions and others onboard users securely while preventing #fraud and ensuring #compliance and now also a member of #AFC! “Joining the American Fintech Council aligns perfectly with our mission to put people in control of their data and unlock the internet’s potential through greater privacy and speed,” said Eli Wachs ?? co-founder and CEO of Footprint. “Fraud and identity theft should not be everyday worries for consumers or companies. We believe technology can fundamentally change that dynamic and help create a more trusting, secure financial system. We are excited to join AFC and collaborate with other responsible companies working to make that future a reality.” ??https://lnkd.in/ebHbpGNj

Fintech companies and innovative banks officially took over #Utah yesterday with the help of Governor Spencer Cox, the Utah Governor's Office of Economic Opportunity and of course our partners and members at Spring Labs to discuss all things #AI at the amazing Rice-Eccles Stadium at the University of Utah! #GoUtes We were proud to co-host this event where Phil Goldfeder did double duty, first moderating a panel with Paul Zhang, Co-Founder and CIO at Avant, Margaret M., CTO at Zions Bancorporation and Jordan Wright, Co-Founder at CEO of Atomic and then a captivating fireside chat with Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill! Led by our tireless Chairwoman, Martha O'Malley, of Prosper Marketplace so many of our members including Annie Delgado, Chief Risk Officer at Upstart, Kareem Saleh, CEO at FairPlay AI and so many others from SoFi, Cross River, Customers Bank, Oscilar, Winnow Solutions, LLC and more! There are not of words to describe the appreciation we have to John Sun, Anna Fridman, Joel Eckhause, Eugene Shvartsman and the entire team at #SpringLabs for a tremendous partnership and day!

New President, New Senate, New House… elections have you nervous about the future of financial services regulation?! Our Policy Summit on November 19th, (yes, after the election) will provide you all the information you need to prepare for #DC in 2025! Who better to break it down than #Senator #ChrisDodd (yes, him)! Now with Arnold & Porter and with more than three decades of experience on Capitol Hill, Senator Dodd will take a retrospective look at our industry at how far we've come and acknowledging the work yet to be done! For more information or to register: https://lnkd.in/eFV8C_Ar

Earlier this week, our very own Ian P. Moloney joined Todd Anderson and Eugene Belostotsky at the 3rd Annual U.S. Asset Based Finance Conference to discuss what banks are doing to maintain a competitive edge in partner private capital and how this has been impacted by the current regulatory environment. During the discussion, Ian highlighted the importance of ensuring that fintechs are #compliance #first and that both banks and fintechs develop unique partnerships to ensure they are able to work within an increasingly competitive and complex environment. Thank you DealCatalyst for putting on a great event in #NYC!

?? Exciting day at the DC Fintech Summit! Our team at AFC, represented by Ian P. Moloney and Hayden Cole, had a fantastic experience networking and sharing insights at this key event in the Penn West Global Innovation Series, co-hosted by the District of Columbia Department of Insurance, Securities and Banking (DISB) Office of Innovation. The summit featured engaging workshops, expert panels, and a resource expo, providing a platform for meaningful discussions. A highlight for us was collaborating with local policymakers, including Tamara Zeidan, Maxim N., and our friends at District of Columbia Department of Insurance, Securities and Banking (DISB). Together, we’re shaping the future of fintech! ???? #Fintech #Innovation #Collaboration #Networking