ABA questions OCC approval of trust charters for crypto companies
ABA President and CEO Rob Nichols said the OCC's approvals raise important questions about the scope and oversight of the...
Payments
FinCEN penalizes crypto firm for BSA violations
FinCEN assessed a $3.5 million civil penalty against the former cryptocurrency services provider Paxful for Bank Secrecy Act violations and...
OCC: National banks can engage in riskless principal crypto transactions
The OCC issued new guidance for agency staff stating that national banks may engage in riskless principal crypto-asset transactions.
ABA, associations ask Fed to withdraw proposal to lower debit card fee cap
ABA and eight financial sector associations are urging the Federal Reserve to withdraw a two-year-old proposal to lower the cap...
OCC’s Gould skeptical of concerns about bank charters for crypto firms
Comptroller of the Currency Jonathan Gould dismissed concerns raised by bank advocates and others about allowing digital asset firms to...
Analysis: Credit card interest rate cap would harm all borrowers
Proposed legislation to cap credit card interest rates at 10% would restrict credit to all borrowers – particularly high-risk and...
Fed seeks public input on potential changes to its check services
The Federal Reserve is seeking public input on potential changes to the check services it provides to banks and credit...
ABA urges CFPB to retract guidance on credit card rewards
ABA asked the CFPB to withdraw guidance for law enforcement alleging that credit card rewards programs could be illegal under...
Top Democrats seek guidance, plan for addressing penny shortage
The top Democrats on the Senate Banking and House Financial Services committees urged federal officials to provide “immediate guidance” about...
OCC releases correspondence on crypto activities
The OCC recently released its correspondence to banks that sought to engage in cryptocurrency-related activities as part of an effort...
