On July 14, the Financial Crimes Enforcement Network (FinCEN) joined the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of...more
As the evolution of Artificial Intelligence (“AI”) dominates headlines throughout the globe, financial institutions have been paying attention. Not surprisingly, so has the Consumer Financial Protection Bureau (“CFPB” or...more
On Friday, March 10, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB), the subsidiary of SVB Financial. The Federal Deposit Insurance Corporation (FDIC) was appointed...more
There is cautious optimism that 2022 will be the year that federal legislation will open the door to the banking of cannabis transactions. But is the Safe Banking Act the answer? On the latest episode of #CreditEcotoGo with...more
On July 29, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Advisory Letter informing the general public that the FDIC does not insure assets issued by non-banking institutions, such as...more
Congress, the states, and regulators have been scratching their heads for years when it comes to fintechs. Balancing consumer protection around innovation has been the source of contentious debate. Podcast host Joann...more
On this episode of the Credit Eco To Go podcast, Joann Needleman speaks with Todd Kleperis. Todd has spent his life taking risks. From military veteran to Harvard University, Todd never shied away from a challenge. It's no...more
On this episode of the Credit Eco to Go podcast with Joann Needleman, there is much speculation that 2021 could be the year that Congress enacts meaningful legislation to allow marijuana related businesses (MRBs) to access...more
On April 30, 2018, the Office of the Comptroller of the Currency (OCC) opened a 45-day public comment period on a proposed Innovation Pilot Program (the Program). The OCC, like the Consumer Financial Protection Bureau and the...more
On February 3, 2017, President Trump issued Executive Order 13772 (“EO”), stating that “It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following...more
The dual banking system in the United States has been criticized because it is cumbersome and often results in more than one financial regulator having oversight over a bank or thrift. The virtue of the dual banking system,...more
At a recent gathering of states attorneys general, Mike Mulvaney, Acting Director of the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) indicated his preference that they take the lead on the enforcement of...more