Nonbanks should not expect direct access to FedNow, the 24/7/365 payments system the Federal Reserve is developing, according to a top staffer.
The Consumer Financial Protection Bureau wants to spur innovation in the use of artificial intelligence and machine learning in financial services, CFPB Director Kathleen Kraninger said today.
Deputy Treasury Secretary Justin Muzinich put developers of so-called “stablecoins” like Libra on alert today, warning that their governance structures are of concern for U.S. policymakers.
The Consumer Financial Protection Bureau today announced updates to its rulemaking agenda for 2019. Significantly, the bureau said that it is considering initiating a rulemaking or issuing guidance to address the interplay between Regulation Z and requirements under the Electronic Signatures in Global and National Commerce Act.
Regulators need to understand the pressures that banks face to innovate and support those efforts, FDIC Chairman Jelena McWilliams said today.
In a statement submitted for the record in tomorrow’s House Financial Services Committee fintech task force hearing, ABA highlighted the importance of protecting consumers when they choose to share their financial data with third parties.
Comptroller of the Currency Joseph Otting is moving forward with issuing a long-awaited notice of proposed rulemaking that would modernize how the agency evaluates banks’ Community Reinvestment Act performance, he said today.
The FDIC, Federal Reserve and OCC today finalized a rule implementing a provision of the S. 2155 regulatory reform law regarding the treatment of high volatility commercial real estate.
The FDIC today proposed to codify as regulation its statement of policy regarding the implementation of Section 19 of the Federal Deposit Insurance Act.
The FDIC, OCC and the Federal Reserve today finalized a new approach for calculating the exposure of derivative contracts under the regulatory capital rule.