A U.S. central bank digital currency “is unlikely to be an equally effective tool for all of the purposes for which it has been advanced, or even to be effective for some stated purposes at all,” the Clearing House said in a paper published today.
From its origins as one of the original “mobile banks” in the 1990s—designed to serve truckers across the country through a network of truck stops—TAB Bank has evolved into an innovative digital bank serving businesses across sectors and around the country.
The Federal Reserve, FDIC and OCC are seeking comments on a joint proposal designed to manage risks associated with third-party relationships, including relationships with financial technology-focused entities.
OCC is working to find nontraditional ways to establish a good credit history for those with no credit.
The House today voted 218 to 208 to repeal the OCC’s “true lender” rule.
On the latest episode of the ABA Banking Journal Podcast, Rob Morgan and Matthew Daigler join to provide quick-fire updates on a variety of fintech-related policy issues.
The American Bankers Association and a coalition of financial trade groups wrote in opposition today to a Senate resolution that would invalidate the OCC’s “true lender” rule that established a test to determine when a bank is considered the true lender on a loan made in a partnership with a nonbank entity.
As the OCC reviews recent interpretive letters on digital assets and trust charters, “everything’s on the table,” current Acting Comptroller Michael Hsu told reporters during a press briefing today—including reviewing provisional approvals already granted under prior acting agency leadership.
Customer satisfaction with traditional bank and credit card-branded lenders increased four points from last year to 861 while fintech lenders’ overall score declined five points to 852 on a 1,000-point scale, according to a new study by J.D. Power.
Nicole Kitowski started her career at Associated Bank as a teller in high school. Nearly three decades later, she brings that experience on the front lines to her role as Associated’s chief risk officer.