"Banks and fintechs are also increasingly cooperating rather than competing."

3 months ago

I read this very short report on the new research from the Federal Reserve, concluding that
"Fintechs give loans to those left behind by traditional lenders"...

According to a paper published by the Fed’s Philadelphia district, fintechs go where bankers fear to tread and are, for the most part, cheaper.

However, what I take from the report is that the G-SIFI (mega-banks like JP Morgan) are successfully adopting FINTECH into their operations, and partnering with niche FINTECH companies:

The report cites JP Morgan Chase and OnDeck’s partnership as a prime example. OnDeck provides the facilities to give automated loans to Chase customers. The loans are entirely Chase branded and held on the bank’s balance sheet.

I recall reading months ago, the Federal Reserve wants a say on U.S. fintech rules:
Federal Reserve wants a say on U.S. fintech rules: Brainard

And to further make my case that reveals the adoption and regulation of FINTECH into the banking cartel's control read the Federal Reserve Bank of San Francisco report:

Speaking at an international summit in Shanghai, Gerald Tsai, the director of the fintech team at the San Francisco Fed, gives an overview of the U.S. fintech industry and financial regulatory framework. He also discusses the unique operating challenges fintech companies face, as well as the work regulators are doing to address them.
Fintech and the U.S. Regulatory Response - Remarks at the 4th Bund Summit on Fintech
Shanghai, China
By Gerald Tsai, Director, Fintech and Applications... Delivered on July 9, 2017

I have also noted central banks' use of the buzz-phrases: cyber-crime, cyberwar, and forensic accounting...

For sure the government and their central bank masters will use the appeal of combating crime to regulate or abolish real competition to the worldwide debt based monetary system.
But, let's leave that for a separate discussion.

Read more:

Fintechs rush in where bankers fear to tread: Federal Reserve By David Tuckwell on 28th July 2017

OnDeck launched in 2007 to solve a major issue facing small businesses: efficient access to capital. by ondeck.com

January 14, 2016 the Brookings institute convened a round-table for technical discussions about the digital distributed ledger technology with industry and policy stakeholders. Read pdf file here.


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President Trump nominates Randal Quarles as Fed's regulatory chief

  • Randy Quarles is the former Under Secretary of the Treasury in the George W. Bush Administration. Before founding Cynosure, Mr. Quarles was a longtime partner of The Carlyle Group, one of the world’s largest private equity firms. The Cynosure Group

  • Quarles served in the first Bush [George H.W. Bush] administration as Special Assistant to the Secretary of the Treasury for Banking Legislation and as Deputy Assistant Secretary of the Treasury for Financial Institutions Policy, returning to Davis Polk in January 1993wikipedia.org

Dig into The Criminal Carlyle Group:

KEVIN RYAN: “Wirt Dexter Walker at Stratesec hired several people from a company called The Carlyle Group and The Carlyle Group had Bin-Laden family members as investors. Also Wirt Walkers fellow (inaudible) director James Abrahamson was a close business associate of a man named Mansoor Ijaz, a Pakistani businessman and Mansoor Ijaz claimed to be able to contact Osama Bin-Laden on mulitple occasions.

So there does seem to be some circumstantial evidence indicated that these people were connected to Al-Qaeda, at least to the point where we should investigate.

LARS SCHALL: And isn’t it also true that some members of the Bin-Laden family were actually in Washington at the gathering of The Carlyle Group on 9/11?

KEVIN RYAN: That’s true. The Carlyle Group had a meeting at the Ritz-Carlton Hotel in Washington on September 11th and present there were former President George H. W. Bush, James Baker and the brother of Osama Bin-Laden. I believe his name was Salem, I can’t recall his exact name. But they were there, investors from the Bin-Laden family meeting with Carlyle Group representatives in Washington on September 11th.”
Listen to more, here.

Quality reporting.
Thanks for the post

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@revelationquotes Thanks, always a pleasure to hear from you.

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No problem. I understand we are minnows that are just trying to make it while helping others to hear the truth.
Hey, let me know if your interested in some upvote boosts!?

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@revelationquotes I'll have learn more about that. Please link me to the guidebook so I can read the details.

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https://steemit.com/minnowbooster/@minnowbooster/6rt2mn-introducing-minnowbooster-beta

I did the Upvote Bot and it works. I have also done the Steem Power invest. Waiting to see the results on that.

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@revelationquotes thanks for sharing the link and info.
I still haven't wrapped my head around what steemit is - with all the hierarchy-whales, soft-censorship, digital tracking, permanent database, fintech banking, bots, multiple-user-accounts, and more - I'm not sure how I want play.

I think steemit allows many opportunities, but also the down-fall is that it is a poor social media platform which is a great opportunity for a competitive blockchain social media platform that actually is structurally focused on members' authored social content.
I'm simply thinking out loud - it is what it is, and we will see what happens...

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As of right now, I see it as a popularity contest. Only those that seem to get or are popular seem to get the upvotes and money.
As for the minnows, we are stuck scraping by...that is for sure. I can not seem to get any posts that have any traction or that can recieve anything more then $2. I am not really sure what Steemit is, but I am trying different aproaches to gather some Steam and SBD. I guess it is a wait and see game for now. All I can do is spread the truth, play around with other things like The Cyrptocurrency Challenges that I setup, and other stuff till I 'Get Noticed'.

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@revelationquotes I wish the content visibility wasn't a structural design flaw. Compounding that is the devaluing content after 7 days is another level...

My point is, if freedom minded blockchain programmers and developers are not focused and vigilant, they may unintentionally be building the infrastructure for the next century of humanity's enslavement.
I was hoping to reach programmers and executives (such as Dan Larimer and others) with this caution.
Continue sharing and seeking the truth, if not here with steemit then other platforms or multiple platforms.

Have you heard about Visio will soon offer a youtube blockchain alternative?