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.
ABA — through its Corporation for American Banking subsidiary — announced today that it has endorsed Rippleshot’s automated card compromise detection platform.
Nearly two-thirds — 62 percent — of respondents to a recent Bank of America survey say they prefer to use mobile or online banking the most over other banking methods, up from 51 percent in 2015.
Comptroller of the Currency Thomas Curry said today that the OCC is examining its legal authority to offer a limited-purpose charter for fintech firms, similar to those granted to trust companies without deposit insurance and to credit card banks, American Banker reported today.
In a comment letter to the OCC yesterday, BAFT – ABA’s global payments subsidiary – made several recommendations in response to the agency’s recently released whitepaper on responsible innovation.
Chief information officers noted a shortage of talent in new technologies as their greatest organizational challenge, according to the annual Harvey Nash/KPMG CIO Survey released last week.
American Banker yesterday named five bankers — all of them ABA members — as 2016 Digital Banker of the Year honorees.
In its response yesterday to the regulatory initiative in support of banking innovation, ABA welcomed the promised cooperation of the OCC as banks strive to enhance service to their customers and streamline innovation.
Twelve House members, including Reps. Patrick McHenry (R-N.C.) and Jared Polis (D-Colo.) today wrote to the Government Accountability Office seeking greater clarity on how the current regulatory structure affects partnerships between banks and fintech companies.
The OCC today opened registration for its upcoming forum on “Supporting Responsible Innovation in the Federal Banking System,” to be held June 23 in Washington, D.C.