Fintech regulations

States are well equipped to regulate fintechs

09/21/20

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.

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Countering OCC, states announce streamlined payments exams

09/15/20

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.

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OCC chief goes too far reimagining national bank charter

09/14/20

Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus.

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OCC chief, N.Y. regulator dig in on fintech chartering, preemption

09/09/20

Acting Comptroller of the Currency Brian Brooks and Department of Financial Services Superintendent Linda Lacewell stuck to opposing scripts on whether federal or state regulators are best equipped to protect consumers and supervise new entrants into the banking system.

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What's next for Jiko now that it owns a bank

09/08/20

The fintech and the Minnesota bank it acquired last week, renamed Mid-Central National Bank, intend to pioneer a new method of storing and moving money for consumers.

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

09/01/20

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.

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Colo. 'true lender' settlement is path forward for bank-fintech partnerships

08/31/20

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

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In a digital world, regulators and innovators need to team up to beat fraud

08/28/20

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

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Rakuten withdrawal a relief for banks, but ILC saga's far from over

08/26/20

The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.

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States entice fintechs by giving them freedom to experiment

08/26/20

Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license.

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