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Midweek Roundup: US Federal Reserve Shuns Fintechs, DEA Agent Suspected of Money Laundering, and More

Senior Federal Reserve officials are hesitant to grant financial technology-based startup firms, or fintechs, direct access to the U.S. payment and settlement infrastructure, putting the central bank at odds with other regulators, Reuters reported. More Former Drug Enforcement Administration agent Jose Irizarry is under investigation on suspicion of conspiring to use the black-market peso exchange, trade-based schemes and bank accounts to launder $7 million for Colombian drug traffickers, sources told the Associated Press. More U.K. Financial Conduct Authority chief executive Andrew Bailey told British lawmakers that the regulator has downgraded its criminal investigation into the London branch of Credit Suisse...

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