Tag Archives: fintech

Democratic Senators Call for New GAO Study of Fintech

Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio), joined by Sens. Jeff Merkley (D-Ore.) and Jeanne Shaheen (D-N.H.) today called on the Government Accountability Office to conduct a new study of the fast-growing nonbank financial technology sector.

Read More »

Boston Fed President Highlights Cyber Risks, Fintech

It is unclear whether nonbank financial technology firms have fully captured the risks of economic downturns and cybersecurity breaches into their business model, Federal Reserve Bank of Boston President Eric Rosengren said in a speech today.

Read More »

Curry: Regulators Updating CRA Q&As as Part of Fintech Response

The federal banking agencies are preparing updates to the Community Reinvestment Act questions and answers to provide guidance on how alternative delivery methods for financial services, including those provided through financial technology platforms, Comptroller of the Currency Thomas Curry said today at a community reinvestment conference in Washington, D.C.

Read More »

OCC: Fintech Firms Inquiring About National Bank Charters

Several fintech companies—including one virtual currency firm—have made inquiries to the OCC about applying for national bank charters, American Banker reported this week, citing comments by OCC Chief Counsel Amy Friend at a recent fintech forum at George Washington University.

Read More »

CFPB Finalizes Unavailing ‘No-Action’ Letter Policy

The Consumer Financial Protection Bureau today finalized a policy under which companies may request “no-action” letters indicating that bureau staff have “no present intention” to initiate enforcement or supervisory actions based on a particular product or aspect of a product.

Read More »

Nichols Makes the Case for Responsible Fintech Regulation

A responsibly regulated fintech industry is essential for ensuring consumer protection and allowing for greater cooperation between banks and alternative financial service providers, ABA President and CEO Rob Nichols said in an op-ed in American Banker today.

Read More »