ABA, Groups Call for Revisions to FDIC Deposit Recordkeeping Proposal

In a joint letter with three other financial trade associations today, ABA responded to an FDIC proposal that would require banks with more than 2 million deposit accounts to collect extensive depositor information and develop systems that would allow the FDIC to close the bank and use the bank’s system to make deposit insurance determinations.

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Curry: OCC Committed to Responsible Innovation

Comptroller of the Currency Thomas Curry reaffirmed his agency’s commitment to promoting responsible innovation within the financial industry in a speech at the OCC’s Responsible Innovation Forum today in Washington.

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FSOC Highlights Risks of Blockchain, Marketplace Lending

In its annual report and during its public session yesterday, the Financial Stability Oversight Council trained scrutiny on the potential risks posed by the growing use of new financial products and delivery mechanisms, including marketplace lending and distributed ledger or blockchain technology.

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