Benzinga | Dec 1, 2021 09:05PM EST

Fintech Focus For December 2, 2021

One Big Thing In Fintech: The Consumer Financial Protection Bureau (CFPB) is enhancing its enforcement scrutiny of banks that are "heavily dependent" on overdraft and non-sufficient funds (NSF) fees after research by the government watchdog found banks pulled in an estimated $15.47 billion in 2019 via these penalties.

Source: FinLedger

Other Key Fintech Developments:

* BNPL Simpl adds $40M raise.

* iOL Pay expanding payments.

* Republic is acquiring Seedrs.

* Unpacking IBAN in a new era.

* MS, Greenlight partnering up. (NYSE:MS)

* QuantaVerse enhances offer.

* IDEX alleviates DeFi failures.

* Square has changed its name. (NYSE:SQ)

* Blue Ocean launches system.

* FTX added ETH NFT support.

* 1inch adds $175M in funding.

* CLASSIQ, NTT collaborating.

* Bankjoy launching a platform.

* CEX.IO adds new executives.

* QI, Symphony partnering up.

* Nasdaq is migrating to cloud. (NASDAQ:NDAQ)

* Bitfinex added multi-screens.

* Nadex, Small Exchange sold.

* AWS and Goldman partnering. (NASDAQ:AMZN) (NYSE:GS)

* Enjin added new partnerships.

* Fintel and Capital IQ team up.

* Congress to host crypto execs.

* Ubiquity to expand to LATAM.

* iVest+, TRADEway partner up.

* Structure adds $20M for DeFi.

* Moonwalk unveils NFT wallet.

* HSBC targets younger clients. (NYSE:HSBC)

* CertiK adding an $80M round.

* Voyager interviewed Ava Labs. (OTC:VYGVF)

* Obsidian, Steadily partner up.

* TIFIN is buying Qualis Capital.

* Octamile comes out of stealth.

Watch Out For This: Gary Gensler, chair of the US Securities and Exchange Commission, said innovations around crypto and decentralized finance will not persist outside the public policy framework.

Source: Markets Media

Interesting Reads:

* Trading meme stock volatility.

* Markets plotting move to T+1.

* Fintech stocks look attractive.

* Fed may speed stimulus cuts.

* SMB lending is behind trends.

Market Moving Headline: Hedge funds, which use borrowed money to amplify returns, have gone risk-off in a major way just as the S&P 500 endured its biggest two-day rout since October 2020. Net leverage, a measure of industry risk appetite that takes into account long versus short positions, fell to a one-year low this week, according to data compiled by Goldman Sachs Group Inc.'s prime brokerage.

Source: Bloomberg