Sens. Cynthia Lummis (R. Wyo.) and Kristen Gillibrand (D. N.Y.) have reintroduced their landmark bipartisan crypto bill known as the Lummis-Gillibrand Responsible Financial Innovation Act (“Lummis-Gillibrand Act” or “LG...more
7/18/2023
/ Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Investment ,
Popular ,
Proposed Legislation ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
It’s already been an epic year for blockchain, and it’s only March. As blockchain technology and digital currency companies are dominating today’s headlines, and more traditional companies get involved, what’s next for this...more
3/17/2021
/ Blockchain ,
Capital Raising ,
Continuing Legal Education ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Currency ,
Entertainment Industry ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Financial Transactions ,
Investment Management ,
Investors ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Startups ,
Tangible Property ,
Tokenization ,
Webinars
As we prepare to put 2020 in the rearview mirror, many of us will not have fond memories of the year. Quarantines, masks, social distancing, unspeakable tragedy, economic ruin for some industries. But the fintech world proved...more
1/7/2021
/ Banking Sector ,
Blockchain ,
Cryptocurrency ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Madden v Midland Funding ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securitization
On the heels of finalizing its Madden-fix rule, the Office of the Comptroller of the Currency (OCC) on July 20, 2020, issued a proposed regulation to address bank-partnership uncertainty arising from the so-called true lender...more
7/28/2020
/ Consumer Financial Products ,
Consumer Protection Laws ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Madden v Midland Funding ,
OCC ,
Regulatory Standards ,
True Lender
In a White House news conference Monday, July 15, Treasury Secretary Steven Mnuchin expressed serious concerns about cryptocurrency and digital investments and raised national security implications of large technology...more
A recently released report from the Office of the Comptroller of the Currency (OCC) identified key areas of risk that pose a threat to the safety and soundness of the federal banking system....more
Reminding financial institutions that a multitude of enforcers are at their doorstep, the Securities and Exchange Commission (SEC) announced a $3 million deal with an online lender....more
What impact will the midterm elections have on banks?
While the Republicans retained control of the Senate, a Democrat-led House is expected to reverse course on the past two years of easing regulatory burdens and enacting...more
In a sign that the California Department of Business Oversight (DBO) is contemplating new enforcement activity or possibly proposed regulations in the lending space, the DBO sent letters to 20 consumer installment lenders...more
In a new bulletin providing supplemental guidance on third-party relationships, the Office of the Comptroller of the Currency (OCC) answered frequently asked questions about the relationships between financial institutions...more
As the fintech revolution advances, U.S. regional and community banks stand at a critical juncture. On one side is an on-ramp to the fintech superhighway—a road that is built for great speed but has significant perils as...more
The latest regulator attempting to rein in controls on the marketplace lending industry is the Federal Deposit Insurance Corp. (FDIC). Marketplace lending to consumer borrowers generally runs through state-chartered banks....more
9/7/2016
/ Administrative Appeals ,
Administrative Proceedings ,
Banks ,
Borrowers ,
Draft Guidance ,
ECOA ,
FDIC ,
Financial Institutions ,
Online Marketplace Lending ,
Popular ,
Public Comment ,
Risk Management ,
State Charters ,
Third Party Lenders ,
Third-Party Risk
Why it matters -
In a new advisory, the Federal Deposit Insurance Corporation (FDIC) provided a reminder to all covered entities of the importance of underwriting and administering purchased loans and loan participations...more