Ron Raether, who discussed the use of COVID-19 vaccination passports. Raether shared that, “[t]here’s going to be different [vaccine] verification standards[;] there’s too much economic pressure to jump start all of these struggling economies.” It appears the Biden administration would agree with the statement;
Reuters
reported the administration is discussing the possibility of providing airlines guidance for the use of vaccine passports in hopes that it will “ramp up international air travel safely.” While the Biden administration previously stated it would not require businesses to use COVID-19 health applications, it will nonetheless publish usage guidance “that provides important answers to questions that Americans have, in particular around concerns about privacy, security, or discrimination, soon.” However, others don’t agree.
CA Wants PR Firm for $750K Consumer Protection Push
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California DFPI Modifies Proposed SB 1235 Regulations - Manatt, Phelps & Phillips, LLP
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Weekly Fintech Focus
Federal financial regulators issue an RFI to better understand financial institution usage of AI models and its implications on current regulations.
CFPB rescinds policy statements that provided regulatory flexibility in response to pandemic challenges.
National Futures Association issues regulatory outsourcing guidance.
Lina Kahn announced as nominee for FTC commissioner position.
FinCEN Director meets with a number of groups to discuss SAR filing.
Prepared Remarks of FinCEN Director delivered at the Florida International Bankers Association AML Compliance Conference
CFPB faced many more consumer complaints in 2020 than in the past.
CSBS working with a number of states to develop a single fintech exam.
The California Department of Financial Protection and Innovation (DFPI) is now accepting applications for its CalMoneySmart Grant Program, which will award up to $1 million this year to support free financial education for unbanked and underbanked consumers in California.
This is the second round of grant funding. The initial round last year awarded nearly $1 million to 12 nonprofits that serve communities in 17 counties across the state. Grant funds helped organizations create important resources, including:
Mission Asset Fund’s mobile financial education app MyMAF;
Financial education curriculum with El Sol Neighborhood Education Center and the Mexican Consulate at the Ventana Financiero;
And the Juma Ventures YouthConnect program to help youth gain work experience while becoming financially literate.