Browsing: Technology

Cybersecurity

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.

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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.

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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.

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