New lawsuit from states over OCC power targets Figure application


The Conference of State Bank Supervisors filed a complaint arguing that the unique bid by the San Francisco fintech is "merely a thinly veiled effort" to evade legal challenges to the federal regulator's chartering of nonbanks.


Community bankers adopt bunker mentality as pandemic drags on


A survey conducted by the Conference of State Bank Supervisors found that concerns about operating conditions have led a large percentage of small banks to steer clear of acquisitions and new tech investments.


States are well equipped to regulate fintechs


The OCC is trying to seize jurisdiction by arguing that current supervision is haphazard. But states are already working together to streamline regulation while continuing to enforce consumer protections and encourage innovation.


Countering OCC, states announce streamlined payments exams


With the Office of the Comptroller of the Currency considering a special charter for payments firms, a state regulator group said large money transmitters can opt for the “one company, one exam” program next year.


State oversight of payments giants ‘a vestige of history,' Brooks says


In a sharp escalation of the battle over the future of the dual banking system, the acting chief of the Office of the Comptroller of the Currency suggested that states should defer to federal authority in supervising global money transmitters.


As states and OCC keep butting heads, does innovation suffer?


Backers of lawsuits challenging federal charter and interest rate policies for nonbanks say states are sticking up for consumer protection. Others say the legal quagmire could slow efforts to improve the regulatory framework.


Congress, not the OCC, decides what is and isn't a bank


The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits.


State regulators question timing, legality of OCC licensing proposal


The Conference of State Bank Supervisors says parts of the plan are an overreach, while the agency should think twice about developing the proposal during the coronavirus pandemic.


Agencies tell banks they will not be criticized for loan modifications


Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.


Regulators pledge assistance to banks affected by coronavirus


State and federal officials committed to providing “appropriate regulatory assistance” to banks whose customers may be hurt by the coronavirus outbreak and said prudent measures would not be subject to criticism by examiners.