PYMNTS

NOVEMBER 23, 2020

Blockchain and a bank charter might do much to boost financial inclusion. Figure Pay, he said, is not built on traditional banking structures but “is a blockchain rail and a digital wallet that we think is infinitely more cost-efficient.”.

Financial Inclusion 86

Financial Inclusion Office of the Comptroller of the Currency Blockchain OCC 86

The Fintech Times

AUGUST 17, 2024

The US subsidiary of a Canadian bank was issued a fine of $65million for unsafe practices related to operational, compliance, and strategic risk management controls. The bank was ordered to pay the fine to resolve investigations by The Office of the Comptroller of the Currency (OCC), an independent bureau of the US Department of the Treasury.

APACS 59

APACS Suspicious Activity Report (SAR) Office of the Comptroller of the Currency Financial Crimes 59

PYMNTS

SEPTEMBER 17, 2018

The battle over FinTechs and national banking charters is about to get a bit more heated. Or to put it a bit more specifically, the Conference of State Bank Supervisors sued the Office of the Comptroller of the Currency. The banking sector, argues the suit, is more efficiently regulated at the state level.

OCC 72

OCC Legal Office of the Comptroller of the Currency FinTech 72

PYMNTS

FEBRUARY 6, 2018

Reuters reported news on Tuesday that banking regulators from seven states across the United States are working to, as the newswire reported, “streamline” the FinTech reporting process, with an eye on those tech firms having an easier road toward offering their products and services across the nation.

Office of the Comptroller of the Currency 47

Office of the Comptroller of the Currency OCC FinTech Non-Bank 47

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. The ruling, too, said that “only depository institutions are able to receive national bank charters from OCC.”.

Legal 40

Legal Office of the Comptroller of the Currency OCC FDIC 40

PYMNTS

MAY 25, 2016

Three bodies — the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation — issued joint guidance in 2013 that recommended FIs not provide loans to businesses that would push their corporate debt levels above six times their earnings.

Office of the Comptroller of the Currency 40

Office of the Comptroller of the Currency OCC Federal Reserve Treasury Management 40

PYMNTS

AUGUST 1, 2018

The report called on Congress to establish a national commission to conduct a comprehensive review of existing financial laws and regulations, and establish a pilot program to test the efficacy of coordinated bank examination teams. Suggestions included that the U.S. In addition, U.S.

Small Business 40

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

PYMNTS

MAY 28, 2018

In banking, the Office of the Comptroller of the Currency has issued new guidance that encourages banks to offer what are defined as responsible small/short-term loans to customers.

Office of the Comptroller of the Currency 40

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

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.

OCC 69

OCC FinTech Non-Bank Regulations 69

CB Insights

FEBRUARY 16, 2021

Meanwhile, a recent survey of central banks found that two-thirds of respondents are actively researching the potential impact of stablecoins on financial stability. So for each stablecoin that exists, there is (theoretically) real fiat currency being held in a bank account to back it up. NON-COLLATERALIZED STABLECOINS.

Stablecoins 101

Stablecoins Multi-Currency Cryptocurrency Bitcoin 101

Global Fintech & Digital Assets

JANUARY 12, 2024

A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability. They are generally aligned with its goal to make the banking examination process fairer and envision that it will strengthen the financial system.

FFIEC 52

FFIEC Process FRB Consumer Financial Protection Bureau (CFPB) 52

The Fintech Times

JULY 20, 2024

Supporting adoption These deliverables are the result of a year-long public-private partnership of the Financial and Banking Information Infrastructure Committee (FBIIC) and the FSSCC. Hsu Acting Comptroller of the Currency.

Treasury 59

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

PYMNTS

AUGUST 20, 2018

As the research shows, 63 percent of respondents to the survey — those who were, in fact, aware of the mandates — were non-compliant. FinTech Firms Eye Bank Charters. Consider India, where EY estimates in a recent survey that in India, companies are finding it a challenge to navigate GDPR.

Office of the Comptroller of the Currency 40

Office of the Comptroller of the Currency FinTech OCC Regulations 40

PYMNTS

OCTOBER 26, 2017

Alternative and marketplace lending platforms promised faster, easier SMB lending than traditional banks could deliver and eventually led traditional financial institutions (FIs) to collaborate with their one-time rivals as they realized they needed to offer more technologically advanced lending experiences to their small business customers.

Office of the Comptroller of the Currency 43

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

PYMNTS

OCTOBER 26, 2018

Wearables also got a B2B showcase this week, with Samsung and HSBC rolling out S3 gear at the bank’s flagship Fifth Avenue location. Voice assistants are popular with wearables owners, with over 20 percent reporting having one as opposed to non-wearables, where smart speaker penetration is still under 10 percent.

Office of the Comptroller of the Currency 53

Office of the Comptroller of the Currency B2C Online and Mobile Banking P2P 53

PYMNTS

OCTOBER 11, 2017

Fulmer said that most players don’t even object to more competition from banks and applaud regulatory clarity that would allow them to compete in the market. There should be vying for the consumer’s business under the same rules and regulations that non-depository providers operate under,” Fulmer noted in an interview with PYMNTS.

Rules 43

Rules CFPB NCUA Credit Union 43

PYMNTS

JULY 31, 2018

In addition, there is increased lawmaker attention to promote innovation among non-bank providers of new payments and payment-related technology, and more consumer concern about online and data security. Treasury Department. The report arrives at a time of growing optimism for U.S. financial technology efforts. FinTech Sandboxes.

AI 77

AI FinTech Security Rules 77

PYMNTS

JANUARY 6, 2021

joined seven states in suing a bank regulator over a rule they fear could encourage predatory lending by stopping them from leveling state laws against exploitative interest rates, Reuters said. Washington D.C. Varo Money and Square , in a haul of 10 firms applying to the OCC — the largest amount in a decade.

Rules 72

Rules Office of the Comptroller of the Currency OCC Regulations 72

PYMNTS

JULY 9, 2018

economy, banks are reporting that business loans are on the rise. Data also shows that business loans are growing faster at small and mid-sized banks, which usually focus on businesses outside of the largest corporate firms. In a sign of strength for the U.S. percent in late June from less than 1 percent near the end of 2017.

Office of the Comptroller of the Currency 40

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

FICO

JULY 17, 2017

While Democrats and Republicans have both discussed their willingness to explore regulatory changes such as targeted relief for small and medium-size banks, the Choice Act has a number of provisions that deeply divide the two parties.

Consumer Financial Protection Bureau (CFPB) 40

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

The Payments Association

JANUARY 31, 2025

Notably, US banking regulators (e.g., ’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. Notably, US banking regulators (e.g.,

Stablecoins 88

Stablecoins Office of the Comptroller of the Currency Treasury FDIC 88