As part of its ongoing efforts to support innovation in the banking sector, the OCC today requested public feedback on a proposed “innovation pilot program.”
Browsing: Regulatory sandbox
Comptroller of the Currency Joseph Otting today highlighted his agency’s efforts to foster responsible innovation, including through the creation of its special purpose fintech charter.
In a letter to the Consumer Financial Protection Bureau today, ABA and three other trade groups offered their support for the bureau’s proposed changes to its 2016 no-action letter policy and its proposal to establish a “sandbox” where banks and nonbank fintech firms can test new products, services and delivery mechanisms.
Financial innovation is happening worldwide. Here are some of the top developments to watch.
Five years after the Consumer Financial Protection Bureau finalized a policy for trial consumer disclosures that saw exactly zero such disclosures authorized, the bureau is retooling its policy to encourage more companies to develop trial disclosures.