Global Fintech & Digital Assets

JANUARY 12, 2024

The director may determine the merits of the appeal, or at the election of the financial institution, refer the appeal to an administrative law judge appointed by the FFIEC to conduct a hearing. In any hearing, neither the director nor the administrative law judge could defer to the opinions of the examiner or agency.

FFIEC 52

FFIEC Process FRB Consumer Financial Protection Bureau (CFPB) 52

Finovate

MAY 6, 2024

FDIC and CFPB have issued multiple consent orders to banks, citing their BaaS relationships as the cause. regulators– the Board of Governors of the Federal Reserve System, the FDIC, and the OCC– have published a new third party risk management guide for community banks. Since late 2023, the U.S.

Regulations 52

Regulations Community Banks FDIC Due Diligence 52

FICO

JANUARY 13, 2020

The laws and rules governing anti-money laundering and combating the financing of terrorism compliance have not been substantively updated since the Bank Secrecy Act was adopted in 1970. In December, the FDIC and OCC issued a proposed rule to modernize the Community Reinvestment Act (CRA).

AML 52

AML Authentication Finance OCC 52

Innovative Payments Association

FEBRUARY 24, 2025

At the FDIC, former Vice Chairman Travis Hill was appointed Acting Director on Jan. He previously served on the FDIC Board. If confirmed, he will return to the FDIC board, along with the Comptroller. The by-laws of the Board say that not more than three of the five-member board can be from one political party.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency FDIC CFPB 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 ).

Office of the Comptroller of the Currency 40

Office of the Comptroller of the Currency Regulations Innovation OCC 40

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).

BSA 49

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

PYMNTS

NOVEMBER 9, 2017

But those laws may be up for reconsideration, as Keith Noreika, the acting Comptroller of the Currency, has raised the possibility that those laws are in need of review and possibly revision. The proposal by the OCC was made at a banking conference in New York. Noreika has a reputation for a strong deregulatory preference.

Regulations 40

Regulations OCC Request for Comment Non-Bank 40

Payments Source

SEPTEMBER 11, 2017

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

FinTech 63

FinTech OCC FDIC Laws 63

PYMNTS

AUGUST 29, 2018

Reuters , citing the OCC , reported the government agency is seeking public comment in what would be the first step to overhaul the law, which banks have contended needed an overhaul since the 1990s when it was last updated. The Trump Administration, noted Reuters, has been pushing for the rules to be relaxed on that front.

OCC 40

OCC Office of the Comptroller of the Currency Process Federal Reserve 40

FICO

DECEMBER 19, 2018

This month, a group of federal agencies including the Federal Reserve, OCC, FDIC and the Financial Crimes Enforcement Network (FinCEN) issued a joint statement which encourages banks to consider, evaluate, and responsibly implement innovative solutions to BSA/AML compliance.

BSA 40

BSA Fincen Suspicious Activity Report (SAR) SARS 40

FICO

JANUARY 9, 2017

A little-known law will have big impact on regulation. The FDIC, Fed and OCC recently initiated the process for drafting new cybersecurity regulations for banks with assets exceeding $50 billion. Haven’t heard of the Congressional Review Act (CRA)? You are not alone. We’ve already seen several early indications of this.

Cybersecurity 78

Cybersecurity CFPB Regulatory Compliance Rules 78

The Payments Association

MARCH 18, 2025

Previously, such subjective assessments had prevented some lawful crypto businesses from securing essential banking services, limiting their ability to operate within the regulated financial system.

Federal Reserve 88

Federal Reserve Stablecoins Fed Settlement 88

FICO

FEBRUARY 23, 2017

OCC, FDIC, Federal Reserve, CFPB, FHFA and SEC) and report to the President within 120 days the extent to which current laws, regulations and oversight requirements, including those connected with the Dodd-Frank Act, help promote the six core principles. He has already nominated a new head of the SEC.

Federal Reserve 40

Federal Reserve OCC CFPB FDIC 40

The Payments Association

JANUARY 31, 2025

the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), or the National Credit Union Administration (NCUA)) are not included in the Working Group, especially given the allegations of an ‘Operation Choke Point 2.0.,’

Stablecoins 88

Stablecoins Office of the Comptroller of the Currency Treasury Regulations 88