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How the New York Department of Financial Services (DFS) Regulates Virtual Currency, a Close Look with Special Guest Kaitlin Asrow,... [Video]

After reviewing the licensing/chartering/approval structures that DFS uses for entities seeking to engage in virtual currency activities, we discuss the role of guidance in DFS’s regulation and oversight of virtual currency,...more

NY Senate confirms nomination of Adrienne Harris to serve as Superintendent of the NY Department of Financial Services

The New York Senate has confirmed Governor Hochul’s nomination of Adrienne Harris to serve as Superintendent of the state’s Department of Financial Services.  Ms. Harris has been serving as Acting Superintendent since the...more

Second Circuit Hears Oral Argument In OCC Appeal From District Court Judgment In NYDFS Lawsuit Challenging Fintech Charter

The U.S. Court of Appeals for the Second Circuit held oral argument last week in the OCC’s appeal from the district court’s final judgment in the lawsuit filed by the New York Department of Financial Services (DFS) seeking to...more

OCC files reply brief with Second Circuit in appeal from district court judgment in NYDFS lawsuit challenging fintech charter

The OCC has filed its reply brief with the Second Circuit in its appeal from the district court’s final judgment in the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s issuance of...more

NYDFS files brief with Second Circuit in OCC’s appeal from district court judgment in lawsuit challenging fintech charter

The New York Department of Financial Services (DFS) has filed its opening brief with the Second Circuit in the OCC’s appeal from the district court’s final judgment in DFS’s lawsuit challenging the OCC’s issuance of special...more

NYDFS Emergency Regulations Require 90-Day Mortgage Forbearance, Waiver Of ATM, Overdraft, Credit Card Late Fees For Borrowers...

In response to New York Governor Cuomo’s Executive Order 202.9 issued on March 21, the New York Department of Financial Services (DFS) has adopted new regulations to provide emergency relief to individuals who can demonstrate...more

OCC appeals NY federal district court final judgment in NYDFS lawsuit challenging fintech charter

The OCC has appealed to the Second Circuit from the district court’s final judgment entered in October 2019 in the lawsuit filed by the New York Department of Financial Services seeking to block the OCC’s issuance of special...more

NYDFS and OCC to discuss proposed final judgment in NYDFS lawsuit challenging fintech charter

Last Thursday, the OCC filed a letter with the New York federal district court hearing the lawsuit filed by the New York Department of Financial Services (NYDFS) seeking to block the OCC’s issuance of special purpose national...more

OCC weighing next steps in NYDFS lawsuit challenging fintech charter

As we reported, a dark cloud is now hanging over the OCC’s decision to accept applications for special purpose national bank (SPNB) charters from fintech companies as a result of the opinion issued on May 2 by a New York...more

NYDFS files opposition to OCC motion to dismiss lawsuit challenging fintech charter

The New York Department of Financial Services has filed a memorandum of law opposing the OCC’s motion to dismiss the NYDFS’s second lawsuit seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters...more

OCC moves to dismiss NY DFS lawsuit challenging fintech charter; more filings in CSBS lawsuit challenging fintech charter

As expected, the OCC filed a motion to dismiss the second lawsuit filed by the New York Department of Financial Services (DFS) in a New York federal district court to block the OCC’s issuance of special purpose national bank...more

NYDFS calls for application of NY usury limits to all online lending and more regulation in online lending report

The New York Department of Financial Services (NYDFS) has issued an Online Lending Report that calls for the application of New York usury limits to all online lending and increased regulation of online lenders making loans...more

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

Student Loan Servicing Laws Enacted in Washington, D.C., Proposed in New York

Washington, D.C., and New York recently moved forward with efforts to license and regulate student loan servicers. In Washington, D.C., servicers of student loans made to District of Columbia residents are subject to a new...more

NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability

Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more

NYDFS, American Bankers Association Weigh In On OCC Fintech Charter Proposal

The New York State Department of Financial Services (NYDFS) has come out strongly against an Office of the Comptroller of the Currency (OCC) proposal to grant national bank charters to financial technology (fintech)...more

NYDFS Revises Cybersecurity Regulation, Extends Effective Date to March 1, 2017

The New York Department of Financial Services (NYDFS) announced today a revised regulation that will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain...more

Innovation versus consumer protection: emerging battle lines

The announcement by the Office of Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire...more

N.Y. Moves Ahead with Proposed Cybersecurity Regulations for Financial Institutions

The New York Department of Financial Services (NYDFS) will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain regulatory minimum standards." All financial...more

NYDFS Finalizes AML/BSA Regulation

The New York Department of Financial Services (DFS) has finalized a new regulation setting rigorous standards for monitoring and filtering programs to monitor transactions for potential anti-money laundering (AML) and Bank...more

New York DFS Brings Enforcement Action Against Two Debt Buyers for Collecting on Payday Loans

The New York Department of Financial Services (DFS) announced last week that it had entered into consent judgments with Webcollex LLC d/b/a CKS Financial (CKS) and National Credit Adjusters (NCA) for allegedly violating the...more

NY DFS Brings First Data Security Action

The New York State Department of Financial Services (DFS) has announced that it has entered into a consent order with an online payday loan lead generator and its chief executive officer (CEO) (collectively, respondents) to...more

NYDFS AML Proposal Would Require Certification of Compliance

The New York Department of Financial Services (DFS) has proposed new regulations setting forth minimum standards for anti-money laundering (AML) transaction monitoring and filtering systems. The regulations, proposed December...more

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Updated: Dec 28, 2021:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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California Privacy Rights

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Changes in Our Privacy Policy

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Contacting JD Supra

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

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