Browsing: Technology

Newsbytes

Acting Comptroller of the Currency Michael Hsu called for establishing an “intentional architecture” for stablecoins that would focus on “stability, interoperability and separability,” and also take into account privacy, security and the need to prevent illicit finance.

Technology

The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”

Newsbytes

The FDIC and the Financial Crimes Enforcement Network recognized three teams for excellence in a recent “tech sprint” to develop solutions for banks and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate and verify information about a person.

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