1. What happened Friday?
a. The California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed FDIC as receiver....more
Earlier this month the staff of the U.S. Securities and Exchange Commission (SEC) published a statement in response to a letter issued by the Wyoming Division of Banking on the custody of digital assets. The SEC staff...more
The New York State Department of Financial Services (NYDFS) recently asked the Second Circuit Court of Appeals to affirm a lower court decision blocking the Office of the Comptroller of the Currency (OCC) from issuing...more
The Office of the Comptroller of the Currency (OCC) recently published a letter clarifying the authority of national banks and federal savings associations to provide cryptocurrency custody services for customers. ...more
The Office of the Comptroller of the Currency (OCC) will seek public comments on the evolution of financial services, including the regulatory framework that enables banks to adapt to technology advancements in the financial...more
New York DFS has launched DFS Next, a new platform for engaging entrepreneurs in financial services and promoting innovation. One of the initial efforts that DFS Next will offer is FastForward, a program to support digital...more
The Federal Reserve Bank of Philadelphia recently published a paper on central bank digital currencies (CBDCs). In the paper the Philly Fed considers a number of issues including...more
UPDATE: This article was updated on May 24, 2018 -
On May 24, President Trump signed into law a banking deregulation bill (S.2155) that loosens rules and requirements imposed on lenders by the Dodd-Frank Act of 2010. ...more
On May 22, The House of Representatives voted 258-159 to pass a banking deregulation bill (S.2155) that loosens rules and requirements imposed on lenders by the Dodd-Frank Act of 2010. The legislation contains a number of...more
President Trump Issues Executive Order Instructing Review of Financial Regulations -
President Donald Trump on February 3rd issued an Executive Order (EO) detailing his Administration’s core principles for financial...more
3/8/2017
/ Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Dodd-Frank ,
EFTA ,
Executive Orders ,
Financial Institutions ,
Financial Regulatory Reform ,
PHH Corp. v CFPB ,
Prepaid Payment Products ,
Regulatory Oversight ,
Removal For-Cause ,
Single Director ,
Trump Administration ,
Truth in Lending Act (TILA)
A newly leaked memo from U.S. House of Representatives Financial Services Committee Chairman Jeb Hensarling (R-TX) to the Committee’s leadership team has provided stakeholders in the banking industry with a preview of major...more
2/15/2017
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Deregulation ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Proposed Legislation ,
Regulatory Oversight ,
Student Loans
Have you considered an investment in or creating a Small Business Investment Company? Doing so may provide financial institutions with a number of benefits, including credit toward annual investment requirements under the...more