News Topic: Fintech regulations

The Trump administration’s formal ouster of Comptroller of the Currency Thomas Curry has set in motion a sea change atop financial regulatory agencies that will likely unfold slowly over the next year. ... Read full article

American Banker's Rob Blackwell and Marc Hochstein discuss the pushback from state regulators and consumer advocates against the OCC's proposed charter; Chris Skinner and Jim Marous hold forth on fintech. ... Read full article

Banking is not a “static” business, and must be allowed to evolve, Comptroller of the Currency Thomas Curry said Friday. ... Read full article

Readers weigh in on Wells Fargo investors reelecting state regulators suing the OCC, Wells Fargo's annual meeting, ultralow interest rates and more. ... Read full article

The Conference of State Bank Supervisors has sued the OCC before the agency has finalized the requirements for a fintech charter, fueling speculation state regulators are trying to delay deployment or scare away potential applicants. ... Read full article

The Conference of State Bank Supervisors is suing the Office of the Comptroller of the Currency, arguing it lacks the legal power to create a fintech charter. ... Read full article

Fintech firms, banks, state regulators and consumer protection groups all expressed significant reservations about the Office of the Comptroller of the Currency's latest plan on its fintech charter initiative. ... Read full article

Congressional action is necessary to give financial regulators the tools they need to promote responsible innovation. ... Read full article

The Conference of State Bank Supervisors announced a raft of measures Tuesday designed to simplify multistate licensing and regulatory oversight for fintechs and other companies registered as money-services businesses. ... Read full article

Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices. ... Read full article

Access to banking information ensures advisers can perform holistic planning, fintech firms say. ... Read full article

The Office of the Comptroller of the Currency’s proposal to require fintech charter applicants to draft and comply with a financial inclusion plan appears to have more teeth than similar Community Reinvestment Act requirements for banks. ... Read full article

In a speech, Consumer Financial Protection Bureau Director Richard Cordray said the agency enforces “with the principle of equal justice” so enforcement actions don’t seem random. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

An improved state-level system could be a tremendous advantage. Working closely with a cooperative regulator, innovators large and small can rapidly test a concept within state lines. ... Read full article

New York State Department of Financial Services Superintendent Maria T. Vullo speaks out on cybersecurity regulation, cracking down on bad actors in the industry and the OCC's fintech charter. ... Read full article

The OCC’s draft fintech charter requirements are far from perfect. States can seize this chance and collectively create a better regulatory environment for fintechs. ... Read full article

The Office of the Comptroller of Currency is trying to do its part to address fintech regulation, but the OCC lacks the mandate to solve the broader fintech issues facing the entire financial ecosystem. ... Read full article