MSBs

State regulators are critical to fintech oversight

07/15/19

The argument that only the federal government is up to the task is misguided.

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State regulators expand multistate licensing process for fintechs

06/24/19

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

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States agree to sweeping reg reforms for fintechs

02/14/19

A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision.

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Fintechs may finally win charter chase in 2019

01/09/19

Whether it's the OCC's special-purpose charter, ILCs or some other option, observers see fintechs being able to obtain banking powers.

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CFPB remittance rule led to drop in prices for money transfers: Report

10/29/18

Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers.

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U.S. Bancorp, a big bank untouched by scandal — until now

02/15/18

The bank’s unsullied image took a hit when it admitted to misleading regulators regarding its efforts to combat money laundering.

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Will multistate licensing plan be enough to woo fintechs?

02/09/18

Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge.

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State regulators launch joint multistate licensing process for fintechs, MSBs

02/06/18

The move is mainly in response to fintech firms that have long argued that the main route to doing business is by getting a license in each state, which can be a cumbersome and repetitive process.

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Key player in Operation Choke Point leaves DOJ, joins law firm

06/19/17

Michael Blume oversaw the controversial effort to crack down on consumer fraud by pressuring banks to cut off certain merchants’ access to the U.S. payment system.

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Merchants Bank of California fined $7 million for widespread anti-laundering failings

02/27/17

Merchants was accused by the Treasury Department's Financial Crimes Enforcement Network of failing to properly monitor money services businesses that had ownership ties with bank insiders.

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