Boston-based Trio is openly offering its cash management account as capital at risk, offering big incentives if consumers agree to sign up for an uninsured account.
Subhankar Sinha, the bank’s new head of blockchain, says its partnership with Bakkt is part of a larger effort to figure out what it would look like to be a custodian for digital assets.
While there’s been dramatic innovation in the banking sector in recent years, regulators and startups can better collaborate around these developments.
The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.
A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.
Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.
The Office of the Comptroller of the Currency had sought to dismiss the case, but a court ruling suggested that the state regulator’s claim may have merit.
Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”
