The Office of the Comptroller of the Currency this week announced the creation of the Office of Financial Technology and the selection of Prashant Bhardwaj to lead the office as deputy comptroller and chief financial technology officer, effective April 10.
The Consumer Financial Protection Bureau this week issued a request for information as part of an inquiry into the business practices of data brokers.
The Securities and Exchange Commission today released three proposed amendments to existing cybersecurity-related rules, including new customer notification requirements for data breaches.
The Depository Trust and Clearing Corporation this week announced the launch of the Libor Benchmark Replacement Index solution to support the industry’s transition from Libor benchmark rates to Secured Overnight Financing Rate Data and other new fallback rate indices by June 30.
New tools bring new insights to ag lending.
How does a community bank whose bread and butter was mortgage lending make the business sustainable in a time when mortgages have increasingly moved to the nonbank sector?
Lawmakers and regulators should adhere to the principle of “same activity, same risk, same regulation” when developing a framework for digital asset regulation, seeking to apply existing financial system safeguards to the digital asset ecosystem and filling in gaps with new legislation, ABA said this week.
When it comes to crypto assets, banking regulators seek to strike a balance between providing enough room for technological innovation to flourish while protecting consumers from a sector that has proven susceptible to fraud, Federal Reserve Vice Chairman for Supervision Michael Barr said this week.
“Banks continue to lead the way in responsible innovation in the financial services sector while nonbank crypto firms continue to collapse,” ABA and BPI wrote.
Recognizing the significant threat posed by state cyber actors, as well as a deepening digital dependency on a global scale, the Biden administration this week released a national cybersecurity strategy.