News Topic: Fintech regulations

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. ... Read full article

While there’s been dramatic innovation in the banking sector in recent years, regulators and startups can better collaborate around these developments. ... Read full article

The measures are likely to raise security costs for the German smartphone bank backed by billionaires Peter Thiel and Li Ka-shing. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

The head of the agency's innovation office said the program will be available only to OCC-regulated institutions. ... Read full article

The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions. ... Read full article

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.” ... Read full article

At a fintech event hosted by the FDIC, the agency’s chief and the head of the OCC offered their views on a wide range of matters. ... Read full article

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter. ... Read full article

Cryptocurrency exchange Bittrex is protesting New York's decision this week to deny it a virtual license exchange, claiming that its rationale contains factual errors and its personnel were not well versed in blockchain. ... Read full article

Readers react to Sen. Elizabeth Warren's "too big to jail" bill, respond to legislation prohibiting banks from denying service to gun dealers, consider the impact of housing finance reform on small lenders and more. ... Read full article

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks. ... Read full article

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said. ... Read full article

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday. ... Read full article

Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system. ... Read full article