PYMNTS

NOVEMBER 25, 2020

In today’s top news in digital-first banking, Ukrainian financial institution UKRSIBBANK is collaborating with Sweden-based FinTech upstart Dreams, while Oportun Financial is pursuing a national bank charter with the Office of the Comptroller of the Currency (OCC). Ukrainian Bank Partners With Swedish FinTech.

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Office of the Comptroller of the Currency OCC FinTech Authorization 64

PYMNTS

MAY 6, 2019

District Court for the Southern District of New York, said the case can proceed, a ruling that denied a dismissal of the suit requested by the Office of the Comptroller of the Currency ( OCC ).

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OCC Office of the Comptroller of the Currency FinTech Rules 66

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). The pandemic has heightened risks for pretty much everyone, including U.S.

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OCC Compliance Risk Office of the Comptroller of the Currency 66

Fintech Finance

OCTOBER 11, 2024

TD Bank Group (“TD” or the “Bank”) (TSX: TD) (NYSE: TD) today announced that, following several years of active cooperation and engagement with authorities and regulators, it has reached a resolution of previously disclosed investigations related to its U.S. The Bank and certain of its U.S.

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AML BSA Money Laundering Financial Crimes 98

PYMNTS

FEBRUARY 22, 2019

Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The project is to digitalize entire check processing — from issuing checks to clearing checks,” said MUFG Asian Systems Office General Manager Hirofumi Aihara.

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OCC AML Office of the Comptroller of the Currency BSA 43

PYMNTS

NOVEMBER 4, 2020

In September, the Office of the Comptroller of the Currency (OCC) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins (those coins have to have a one-to-one relationship with a fiat currency).

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Bitcoin Cryptocurrency Office of the Comptroller of the Currency Consumer 83

PYMNTS

SEPTEMBER 18, 2018

The nation is forming a Direct FAST industry group, where the members will include traditional financial institutions (FIs), FinTech firms and the Monetary Authority of Singapore (MAS). The movement to open that FinTech access, said the minister, brings “greater convenience to consumers” as those individuals use their eWallets.

Legal 66

Legal Office of the Comptroller of the Currency FinTech eWallet 66

PYMNTS

MAY 29, 2017

According to reports, this trend has the federal Office of the Comptroller of the Currency (OCC) examining how to navigate regulation in the age of FinTech. The Conference of Bank State Supervisors launched the legal action, claiming the OCC is overstepping its authority over state-level regulators.

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Regulations Office of the Comptroller of the Currency OCC FinTech 53

PYMNTS

SEPTEMBER 17, 2018

Or to put it a bit more specifically, the Conference of State Bank Supervisors sued the Office of the Comptroller of the Currency. The suit is one alleging that the OCC does not have the authority to provide such licenses under the FinTech charter that has been proposed. New York state is suing the United States.

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OCC Legal Office of the Comptroller of the Currency FinTech 72

PYMNTS

DECEMBER 24, 2020

Office of the Comptroller of the Currency announced that banks could hold reserves on behalf of customers who issue stablecoins — which are, of course, a form of crypto but are pegged to an underlying asset such as a dollar. Over the summer, the U.S.

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Federal Reserve Bitcoin Cryptocurrency Office of the Comptroller of the Currency 103

PYMNTS

DECEMBER 10, 2018

CoinGeek reports that the Swiss financial regulator (specifically the Federal Council of the Swiss Financial Market Supervisory Authority) last week has put in place rules that would allow FinTech startups to accept public deposits to up to the equivalent of $100 million USD which reflects a bid to increase innovation in the sector.

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Regulations AML Office of the Comptroller of the Currency Money Laundering 69

PYMNTS

SEPTEMBER 25, 2018

Office of the Comptroller of the Currency (OCC) has reignited that pressure. That effort has launched a debate about the OCC’s regulatory authority and issues surrounding FinTechs’ ability to charge higher interest rates should they obtain a banking license.

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Office of the Comptroller of the Currency OCC FinTech API 51

PYMNTS

JANUARY 15, 2019

As has been reported, the regulators include the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., Separately, as reported late last week by Xinhua, the Hong Kong Monetary Authority has held a “high-level roundtable” focused on ways to boost FinTech across borders.

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Fed Cross-Border FinTech Office of the Comptroller of the Currency 59

PYMNTS

SEPTEMBER 9, 2016

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency have levied the highest penalties ever on the leading U.S. 400,000 | The amount of annual fees, interest charges and overdraft protection fees that were charged on credit cards that customers had not authorized.

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Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Deposit Account CFPB 40

PYMNTS

SEPTEMBER 13, 2018

banking watchdog the Office of the Comptroller of the Currency (OCC) is facing a lawsuit, adding another setback to its struggling effort to provide FinTechs with national banking licenses. Reports in The Wall Street Journal said on Wednesday (Sept. Reports in The Wall Street Journal said on Wednesday (Sept.

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OCC Office of the Comptroller of the Currency FinTech Legal 40

PYMNTS

OCTOBER 24, 2019

The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have given FinTechs a leg up on competing with traditional financial services companies. Lights out for the FinTech charter idea? Might the Supreme Court, eventually, be the ultimate arbiter of this debate?

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Legal Office of the Comptroller of the Currency OCC FinTech 40

PYMNTS

OCTOBER 25, 2019

The Commodity Futures Trading Commission ( CFTC ), Federal Deposit Insurance Corporation ( FDIC ), Office of the Comptroller of the Currency ( OCC ), and the Securities and Exchange Commission ( SEC ) have announced that they are joining the Global Financial Innovation Network ( GFIN ).

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Office of the Comptroller of the Currency Regulations Innovation OCC 40

PYMNTS

MARCH 15, 2019

She added that, last year, “federal regulators and authorities capped the bank’s growth, and fined the bank more than $3 billion for offenses, such as improperly charging customers auto insurance and mortgage fees.”. Waters questioned Sloan during a four-hour hearing on Tuesday (March 12) about Wells Fargo’s consumer abuse issues.

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Office of the Comptroller of the Currency OCC Caps Risk Management 43

PYMNTS

AUGUST 7, 2019

regulations have not only mandated traditional FIs to open customer data to third-party FinTechs on the authorization of joint customers, the regulatory landscape has also encouraged greater competition in the small business banking space, giving rise to a flock of challenger banks. For instance, in the U.K., Meanwhile, in the U.S.,

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Office of the Comptroller of the Currency Payment APIs and Integration Federal Reserve Small Business 72

FICO

DECEMBER 14, 2016

Less glowingly, American Banker characterized the decision as having “strings attached” : “The Office of the Comptroller of the Currency will start granting limited-purpose bank charters to fintech companies, but intends to maintain high standards for new entrants.”. Waiting for the EMV authorization can seem like forever.

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EMV FinTech Chip Cards Office of the Comptroller of the Currency 80

The Fintech Times

JULY 20, 2024

Additionally, firms must assess existing authorities for cloud service provider (CSP) oversight. authored collectively by the FSSCC Cloud Profile Workstream and the Cyber Risk Institute (CRI), is intended to serve as a cloud security implementation plan for financial institutions of all sizes and functions. Cloud Profile 2.0 (led

Treasury 59

Treasury FS-ISAC Consumer Financial Protection Bureau (CFPB) Due Diligence 59

Segpay

MARCH 24, 2025

The Australian Communications and Media Authority (ACMA) enforces gambling laws and can block illegal offshore gambling websites. Online Gambling (Casinos, Sports Betting, and Esports Betting) Strictly regulated under the Interactive Gambling Act 2001 (IGA) and state laws.

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Compliance Suspicious Activity Report (SAR) Fincen AML 71

PYMNTS

JUNE 17, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level.

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PayPal OCC Office of the Comptroller of the Currency Disputes 56

PYMNTS

FEBRUARY 15, 2019

Those agencies include the aforementioned FinCEN, the Federal Reserve , the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC). Embassy indicated that the funds were spent without proper documentation and authorization. “By

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BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

PYMNTS

MAY 28, 2018

Earlier this month, 17 of 24 authorities who responded to a survey said they do not have what they need in terms of authority or funding to enforce rules. As previously reported, regulators have said they are not ready to enforce GDPR.

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Office of the Comptroller of the Currency Money Laundering Privacy Non-Bank 40

PYMNTS

AUGUST 1, 2018

The report also asked Congress to amend the National Bank Act to authorize the Office of the Comptroller of the Currency (OCC) to issue a federal charter for non-bank financial companies.

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Small Business Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency CFPB 40

CB Insights

MARCH 8, 2018

” The passport enables a firm licensed in 1 of the 27 EU member states to provide financial products or services in another country without needing further authorization in each country. Challenger banks have also been able to expand within the EU by leveraging the European Economic Area (EEA) “passport.”

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Payment APIs and Integration Office of the Comptroller of the Currency Regulations Product 78

Nanonets

NOVEMBER 15, 2023

When a customer makes a purchase from a merchant, the payment processor will authorize the transaction and securely transfer the funds to the merchant’s bank account. These agencies include the Federal Reserve, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau.

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Processors Payment APIs and Integration Office of the Comptroller of the Currency Debit Card 52

PYMNTS

OCTOBER 26, 2017

But the question is, in what form would that come and … under what regulatory authority?”. “I think they are going to dominate the market, and that is the next phase that’s coming,” said Karen Mills, Obama’s former small business advisor, during a speech at the LendIt Europe conference, as reported in CNBC. We’re starting to see that.”.

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Office of the Comptroller of the Currency Small Business Advisors Non-Bank 43

PYMNTS

DECEMBER 1, 2017

authorities seeking an explanation. According to reports, European data protection authorities said regulators from France, Italy, Spain, Belgium, the U.K. According to reports, European data protection authorities said regulators from France, Italy, Spain, Belgium, the U.K. and Germany will all be part of the task force.

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Breach Data Breach Office of the Comptroller of the Currency Federal Trade Commission 57

The Fintech Times

MARCH 6, 2024

The regulatory tides may be changing in the US, as the Office of the Comptroller of the Currency (OCC) suggests banks should be doing more to manage risks related to partnering with fintech firms. Restricting your activities, based on your level of authority, is critical for each party.

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OCC FinTech Non-Bank Regulations 69

CB Insights

FEBRUARY 16, 2021

Smart contracts are self-executing contracts that exist on a blockchain network, without requiring any third party or central authority to enact it. Stablecoins also allow the use of smart financial contracts that can be enforceable over time.

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Stablecoins Multi-Currency Cryptocurrency Bitcoin 101

Clearly Payments

FEBRUARY 8, 2024

Office of the Comptroller of the Currency (OCC): As an independent bureau within the U.S. Open Banking: Initiatives promoting open banking aim to enhance competition and consumer choice by enabling the secure sharing of financial data among authorized third-party providers.

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Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 105

PYMNTS

NOVEMBER 6, 2017

What falls out of this process, and what becomes useful to the industry at large, said Madhu, is certification.

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Security Consumer Identity Theft Office of the Comptroller of the Currency 43

The Fintech Times

NOVEMBER 5, 2024

Banking regulators should exercise their authority to regulate and supervise fintechs directly, so banks are not forced to serve as ‘quasi-regulators’, the Bank Policy Institute and the Clearing House Association have urged in a new letter.

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Regulations Office of the Comptroller of the Currency FinTech Due Diligence 59

PYMNTS

OCTOBER 23, 2019

Office of the Comptroller of the Currency (OCC) does not have the power to grant national charters to financial technology (FinTech) companies, The Wall Street Journal reported on Tuesday (Oct. New York’s federal district court ruled that the U.S. The court decision on Monday (Oct.

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OCC Rules Office of the Comptroller of the Currency FinTech 40

PYMNTS

FEBRUARY 26, 2018

The Office of the Comptroller of the Currency is examining the Community Reinvestment Act, which in part means that rules governing short-term lending may be reversed, and would let community banks compete more directly against payday lenders. 19), the Financial Conduct Authority and the U.S. Last Monday (Feb.

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Federal Reserve Office of the Comptroller of the Currency Treasury Regulations 40