2021 is in the books…another eventful year on so many different fronts. For financial institutions, it was a year in flux, with various governmental appointments taking on new importance in the day-to-day life of banks. ...more
1/11/2022
/ Acquisition Agreements ,
Bank Merger Act ,
Banks ,
Competition ,
Coronavirus/COVID-19 ,
Employees ,
Financial Markets ,
Financial Services Industry ,
FinTech ,
Hiring & Firing ,
Infectious Diseases ,
Interest Rates ,
Merger Agreements ,
Resignation
Bank mergers and acquisitions are on the rise, with the total number of bank M&As in 2021 surpassing that of 2020. With this increase, institutions should pay close attention to trends and new regulatory guidelines to prepare...more
9/15/2021
/ Acquisitions ,
Banking Sector ,
Banks ,
Best Practices ,
Continuing Legal Education ,
Financial Institutions ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech ,
Mergers ,
Professional Plaintiffs ,
Webinars
When Michael Hsu became acting U.S. Comptroller of the Currency earlier this month, banking industry experts predicted a shift away from the aggressive innovation pushed by fintech-friendly Brian Brooks, who resigned as the...more
What can we really say about 2020?—a year more unique than any year we can remember. For financial institutions, it was a year that started off with lots of hope and drifted into levels of significant concern as COVID-19 took...more
Following ongoing efforts to promote the expansiveness of the national bank charter, on July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming the authority of a national...more
8/6/2020
/ Banking Regulators ,
Banking Sector ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
Financial Regulatory Reform ,
FinTech ,
Internal Controls ,
Interpretive Letters ,
National Bank Charters ,
OCC
In the latest battle over the Office of the Comptroller of the Currency’s (OCC’s) plan to issue special purpose national bank (SPNB) charters, a D.C. federal judge has for a second time dismissed a lawsuit brought by the...more
Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams emphasized the need for partnership and collaboration with the financial services industry, in recent remarks at a fintech conference....more
“Innovation” is the keyword for regulators across the country, with the Federal Deposit Insurance Corporation (FDIC) announcing the agency will create an office to encourage banks to try out new financial technology and the...more
Here we go again: The New York Department of Financial Services (DFS) has filed its second lawsuit against the Office of the Comptroller of the Currency (OCC) over the agency’s plan to permit fintech companies to apply for...more
Finding the action unripe, a federal court judge has dismissed the New York Department of Financial Services’ (DFS) challenge to the Office of the Comptroller of the Currency’s (OCC) decision to grant special purpose national...more
Acting Comptroller of the Office of the Comptroller of the Currency (OCC) Keith Noreika continued speaking out on changes in the financial services industry—and the potential for fintech charters—in recent remarks....more
In a new research paper, the Federal Reserve Bank of Philadelphia concluded that fintech lending has enhanced financial inclusion, often at lower cost to consumers....more
Holding the line on the future of fintech charters, Acting Comptroller Keith Noreika confirmed that the Office of the Comptroller of the Currency (OCC) will move forward with its plans to issue special purpose charters....more
Expressing concern about potential discrimination, one federal lawmaker has decided to take a closer look at small-business financial technology lending, sending letters to several fintechs with a series of questions....more
Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech...more
Seeking to modernize the state regulation of nonbanks—and perhaps in response to the Office of the Comptroller of the Currency’s decision to grant fintech charters—the Conference of State Bank Supervisors announced its plans...more
A financial technology advocacy group has reached out to President-elect Donald J. Trump, encouraging him to create a new position at the Treasury Department to support fintech. The position that the President-elect and his...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
What are federal regulators doing with regard to oversight of emerging financial technology? That question is at the heart of a letter Sens. Sherrod Brown (D-Ohio) and Jeff Merkley (D-Ore.) recently sent to the leaders of the...more
8/30/2016
/ Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Legislative Agendas ,
Loans ,
OCC ,
Third-Party Service Provider
An annual report from the Financial Stability Oversight Council (FSOC) recently focused on the risks presented by the burgeoning fintech industry as well as the continuing "pressing concern" of cyber threats and...more
7/18/2016
/ Annual Reports ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Threats ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
Financial Products ,
FinTech ,
FSOC ,
Online Marketplace Lending ,
Popular ,
Risk Management ,
Securities and Exchange Commission (SEC)
The growth and expansion of FinTech service providers nationally and internationally over the last five years is reshaping the financial landscape. This evolution includes differentiation in how financial products are...more
2/10/2016
/ Behavioral Advertising ,
CAN-SPAM Act ,
ECOA ,
FDIC ,
FinTech ,
FTC Endorsement Guidelines ,
Popular ,
Social Media ,
TCPA ,
Truth in Lending Act (TILA) ,
UDAAP ,
Unfair or Deceptive Trade Practices