News Topic: Fintech regulations

Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy. ... Read full article

Treasury, OCC want to make it easier to compete with banks; the two banks will sell notes and other products through a broker network. ... Read full article

The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks. ... Read full article

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter. ... Read full article

Lawmakers approved legislation to enable coordination between state and federal regulators on examining banks' third-party vendor relationships. ... Read full article

The Conference of State Bank Supervisors says state and federal regulatory coordination on third-party technology service provider exams eliminates duplication ... Read full article

Paul Watkins served as chief counsel for the Arizona AG's 150-person civil litigation division and also headed up the office's fintech initiatives. ... Read full article

Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded. ... Read full article

Flagstar Bank raids Regions for its director of retail banking; prosecutors allege bank CEO got access to Trump in exchange for approving Paul Manafort mortgage; a potential turning point in fintech regulation; and more from this week's most-read ... Read full article

Raj Date’s new firm, FS Vector, will help cryptocurrency firms and digital upstarts navigate Washington. ... Read full article

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders. ... Read full article

Despite some criticisms of the strategy, community banks should continue to pair up with fintech companies that can help them expand their digital offerings. ... Read full article

Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application. ... Read full article

The payments processor has pulled its submission to the FDIC to become a depository bank but says it plans to make a second attempt soon. ... Read full article

Attorneys general from 21 states say the measures would undermine their ability to enforce consumer protection laws. ... Read full article

Some community banks are partnering with fintech accelerators or creating their own to get on the cutting edge and get a leg up on their competitors. ... Read full article

Jan Lynn Owen works at the epicenter of the digital revolution, but she is unambiguously cautious about the fintech industry. ... Read full article

A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space. ... Read full article