Fintech · Industry brief

FirstCash acquired UK pawnbroker Ramsdens for £206 million ($273 million). Backbase acquired AI platform Kasisto to strengthen its Banking OS. Connecticut regulators approved Santander's $12.3 billion acquisition of Webster Financial. Colony Bankcorp signed a $163 million agreement to acquire First Reliance Bancshares. Pollen Street Capital agreed to acquire Finastra's Universal Banking division for an undisclosed amount. Kaspi.kz received regulatory approval to acquire Rabobank A.Ş. in Türkiye. North Shore Bank agreed to acquire Wisconsin's 1895 Bancorp for over $100 million in cash. Three fintech-focused SPACs filed or closed offerings: Gores Holdings XI ($358.8 million IPO), Thunder Bridge Capital Partners V (filing for up to $261 million), and Long Table Growth Corp. ($172.5 million).

On June 16, the CFTC issued a Request for Information seeking public input on regulatory barriers that may impede fintech firms from participating in derivatives markets, implementing Executive Order 14405's directive to identify obstacles limiting innovation and competition. The RFI specifically seeks comment on streamlining registration processes, removing barriers to fintech partnerships with CFTC-regulated entities, modernizing supervisory requirements, evaluating whether current registration categories adequately capture emerging business models including decentralized finance, and identifying opportunities for regulatory relief for technology-enabled activities. (Source: JDSupra citing CFTC Request for Information, June 16)

On 7 July 2026, the FCA published Enforcement Watch 2, its second enforcement newsletter, focusing specifically on supervision and enforcement of the Consumer Duty. The FCA is currently investigating 11 matters involving potential Consumer Duty breaches across insurance, pensions, wealth management, consumer investments, peer-to-peer lending, and claims management sectors. Last year the FCA intervened 382 times using tools including Voluntary Requirements (VREQs) and Ordinary Initial Requirement (OIREQ) notices, with examples cited across insurance, wealth management, fund management, financial advice, CFD platforms, and claims management. The FCA emphasizes that investigations examine not only pricing and fair value but also product features, clarity of information, and customer support, with several cases investigating whether consumers received fair value under PRIN 2A and PROD Rules alongside the Consumer Duty obligations. (Source: FCA Enforcement Watch 2 newsletter, 7 July 2026)

The Office of the Comptroller of the Currency appointed the Federal Deposit Insurance Corporation as receiver for Kentland Federal Savings and Loan Association in Indiana on July 10, 2026. The OCC took action after determining the institution, which held approximately $3.7 million in total assets as of March 31, 2026, experienced substantial asset and earnings dissipation due to unsafe and unsound practices, became critically undercapitalized, and had no reasonable prospect of achieving adequate capitalization.