The shift away from equity owners and the aging of the wealth management workforce portends big changes.
The debate over how the financial industry should address the opportunities and challenges of fintech has sparked a discussion about “the fundamental nature of the business of banking,” said Comptroller of the Currency Thomas Curry in remarks today.
In a speech today, Federal Reserve Governor Lael Brainard acknowledged the challenges facing the financial industry as banks work to partner with fintech companies and innovate to better serve their customers.
A senior OCC official reaffirmed today that the agency’s limited-purpose fintech charter would not lead to “light-touch” supervision for fintech companies.
A Government Accountability Office study published today examines four “subsectors” within the fintech industry, highlighting the types of products and services offered and how they are regulated.
ABA today urged the leaders of the Senate Banking Committee to focus on expanding portfolio mortgage lending, modernizing rules on brokered deposits, enhancing bank innovation and providing relief from unnecessary stress tests — all of which would be bipartisan, common-sense policies to promote economic growth.
To ensure transparency and clarity as the OCC begins granting special-purpose national bank charters for fintech companies, ABA urged the agency to solicit public comment and pursue federal interagency cooperation when it weighs action on charter applications.
A new ABA survey highlights the current state of social media in banking.
Over the last month, ABA has been working with state bankers associations to inform members of Congress about the demand letters that plaintiffs’ firms have sent to banks asserting that the bank’s website is not accessible to speech and hearing impaired customers as required by the Americans with Disabilities Act.
Very few American consumers have a complete understanding of several consumer-focused cybersecurity concepts, a new Pew Research Center study found.