Cross River

This month our team has been hard at work—but not just on business! We’ve been celebrating the incredible culture here at Cross River with some exciting and FUN events. From team-building activities to moments of delicious joy, here’s a sneak peek of what makes Cross River more than just a workplace! ?? Our election day coffee bar? ?? Weekly ping pong tournaments ?? A special supermarket sweeps prize for our Halloween team costume contest winners!

Our team had an incredible day at the American Fintech Council Policy Summit yesterday, reconnecting with old friends, making new connections, and gaining insights from industry experts and congressional leaders on fintech policy. Cross River Founder and CEO, Gilles Gade, participated in a panel of bank leaders to discuss key topics, including optimism about collaboration with the new administration on regulatory policy, the need for clarity in fintech terminology and a new regulatory framework, and the promising future of embedded finance. Thank you, Phil Goldfeder and the entire AFC team!

We welcome the new administration and hope to assist in charting a regulatory path that fosters and encourages innovation. For over 16 years, we’ve led the charge for responsible fintech regulation at Cross River actively working to shape industry standards and engaging regulators as the agencies attempt to keep up with rapid fintech advancements. Now is the time to focus on how regulatory agencies can adapt to support the bank-fintech partnership model. By allowing responsible industry players educate and actively collaborate with regulators via the establishment of a fintech working group, we can help adapt consumer-first regulation, modernize the examination process and streamline RFI discussions to reflect the realities of the way banks and consumers interact daily. Fintech has been transformative in providing consumers and small businesses with greater choice, while also extending services to markets traditional banking models have shunned. I’ll be at the American Fintech Council Policy Summit today where I look forward to discussing this, and more, with other innovators in the space. Hope to see you there!

Catch up on this week's?Cross River?IQ?newsletter. Here are the highlights:???? ??Inflation Remains Stubbornly Steady ??Fed Gov Waller Flags Legal Uncertainty After?Loper Bright,?Corner Post?Decisions ??Navy Fed Hit With $95Mn CFPB Enforcement Action ??Comerica Pushes Back on CFPB’s “Overreaching” Probe ??Sunbit Lands $355Mn Debt Facility ??Neo Financial Raises $258.3Mn Series D ? ??Klarna Preps U.S. IPO ? ??Cash App to Roll Out Afterpay to Debit Card Users Link to this week's edition in comments:???? #consumerlending?#fintech?#baas

With news that the Federal Deposit Insurance Corporation (FDIC) has extended the comment period for its proposed rule around Requirements for Custodial Accounts, we’re sharing our Founder and CEO Gilles Gade’s full statement in support of regulators taking responsive measures to protect consumers and the future of the bank-fintech model from the actions of irresponsible parties. Read more here: https://lnkd.in/eC57U8ai. #ResponsibleInnovation #FinancialRegulation #fintech #banking?

Our Founder & CEO Gilles Gade is attending the American Fintech Council Policy Summit to discuss how regulatory agencies can adapt to support the bank-fintech model, ways the incoming administration should work with the industry to craft forward-thinking policies and the future of embedded finance.?He’ll be joining a panel with Thread Bank’s Chris Black, Coastal Community Bank’s Eric Sprink, and Lincoln Savings Bank’s Sean Willett, moderated by FTI Consulting’s Janet Hale, CRCM, CERP.

On #NationalPhilanthropyDay, we celebrate giving without borders. Through our “50 States of Philanthropy” campaign, we’re committed to providing impactful support nationwide—filling the map #CrossRiverBlue, one state at a time. ?? #ImpactfulPhilanthropy

In case you missed our webinar on subledger management and FDIC’s new proposed rule, here are 10 key takeaways from our discussion with industry experts. From compliance clarity, to efficiency, to a competitive advantage, this discussion is one you can’t miss. Access insights and the full recording here: https://lnkd.in/e8YTaZRr #compliance #fintech #banking

Money2020 rewind: A lookback at some of the hot topics that dominated conversations at this year's fintech event ????https://lnkd.in/euhAZri9 #futureoffinance #openbanking #fintech

Today, we had a great discussion on FDIC's recent proposed ruling and the power subledger management plays in achieving compliance. Thank you Plaid’s Dana Weinstein, Bank Director’s Kiah Lau Haslett, Modern Treasury’s Kojiro M., and our Head of Payments Keith Vander Leest for a great conversation! ? Fintech Takes?Alex Johnson, we missed you today! #fintech #banking