EDA: $3 Million Invested to Build Unmanned Aerial Systems Training and Innovation Facility in New Jersey
Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the County of Cape May to help build a 20,000 square foot multi-tenant building that will fulfill the needs of companies in the Unmanned Aerial Systems (UAS) industry. The facility will be located…
CFPB: Bureau Collaborating with Regulators Around the World to Create Global Financial Innovation Network
The Bureau of Consumer Financial Protection (BCFP), working in collaboration with 11 financial regulators and related organizations, is announcing an initiative to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to…
CFPB: Paul Watkins Announced as New Director for the Office of Innovation
Bureau of Consumer Financial Protection (Bureau) Acting Director Mick Mulvaney today announced he has selected Paul Watkins to lead the Bureau’s new Office of Innovation. “I am delighted that Paul Watkins is bringing his deep expertise, track record of protecting consumers, and commitment to innovation to the Bureau,” said Acting Director Mulvaney. “I am confident…
HUD: University of Maryland Wins HUD’s Innovation in Affordable Housing Student Design and Planning Competition
The U.S. Department of Housing and Urban Development (HUD) today announced the University of Maryland, College Park as the winner of its 2018 Innovation in Affordable Housing Student Design and Planning Competition. A team of graduate students received top honors for their project, Beacon Crossing—a plan for public housing in Dover, N.H., that will provide…
OCC: Inaugural Listening Session and Innovation Office Hours Announced for Chicago
The Office of the Comptroller of the Currency (OCC) today announced the date and location for its upcoming Innovation Office Hours and inaugural Listening Session. Office Hours are one-on-one meetings with OCC officials to discuss financial technology, new products or services, partnering with a bank or fintech company, or other matters related to financial innovation….
Census Bureau: New Data Tools and Apps to Be Revealed at Technology Demo Day on November 29th
What: The U.S. Census Bureau will showcase 12 new innovative projects at an interagency demonstration day created through a federal initiative called The Opportunity Project (TOP). These new tools address problems such as youth and veteran homelessness, engaging hard-to-count populations in the decennial census and making federal grants data user-friendly. TOP is a collaborative effort…
Federal Reserve: Speech | Financial Innovation: A World in Transition
We live in a world defined by the rapid pace of technological change. Four of the five largest U.S. companies by market capitalization are classified as “technology companies,” where the term describes the products that these companies sell and how they operate. Thanks to decades of investment in information technology, especially in electronic communication networks,…
CFPB: Announces First No-Action Letter in Efforts to Support Consumer-Friendly Innovation
The Consumer Financial Protection Bureau (CFPB) today announced a no-action letter issued to Upstart Network, Inc., a company that uses alternative data in making credit and pricing decisions. As a condition of the no-action letter, Upstart will regularly report lending and compliance information to the CFPB to mitigate risk to consumers and aid the Bureau’s…
SBA: Grants Awarded to 21 State and Local Economic Development Entities, SBDCs, and Universities to Support R&D Commercialization and Small Business Innovation
The U.S. Small Business Administration has granted up to $125,000 awards in FY 2017 to 16 Federal and State Technology (FAST) Partnership Program recipients including state and local economic development entities, small business development centers, colleges and universities and up to $200,000 awards to five Small Business Technology Development Centers (SBTDCs) that provide support to…
Federal Reserve: FinTech and Financial Innovation – Drivers & Depth
Abstract: This paper answers two questions that help those analyzing FinTech understand its origins, growth, and potential to affect financial stability. First, it answers the question of why “FinTech” is happening right now. Many of the technologies that support FinTech innovations are not new, but financial institutions and entrepreneurs are only now applying them to…