The Board of Governors of the Federal Reserve System (the Board), on August 15, 2022, issued final guidelines for regional Federal Reserve Banks to use when considering applications for Federal Reserve “master...more
9/21/2022
/ Banks ,
FDIC ,
Federal Reserve ,
Final Guidance ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Investment ,
NCUA ,
OCC ,
Risk Management
CFPB Requests Info on Consumer Financial Products or Service Fees -
On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) announced the launch of an initiative to collect information from consumers,...more
2/9/2022
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Card Surcharges ,
FDIC ,
Financial Services Industry ,
FinCEN ,
FinTech ,
OCC ,
Surcharges ,
Technology
Bank Regulator Outlines Vision for Bank-Like Supervisory Regime for Crypto and Fintech Firms -
On November 3, 2021, Acting Comptroller of the Currency Michael J. Hsu discussed clarifying and modernizing the bank...more
11/10/2021
/ Banking Sector ,
Cryptocurrency ,
Federal Trade Commission (FTC) ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
GLBA Privacy ,
Non-Bank Lenders ,
OCC ,
Safeguards Rule
Federal Banking Agencies Issue Guide for Community Banks on Conducting Due Diligence on Fintech Companies -
On August 27, 2021, the federal banking agencies (Federal Reserve, FDIC, and OCC) published “Conducting Due...more
9/20/2021
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit ,
Due Diligence ,
FDIC ,
Federal Register ,
Financial Services Industry ,
FinTech ,
NPRM ,
OCC ,
Proposed Rules ,
Small Business
Recent guidance from financial industry regulators reminds market participants to remain mindful of their business, compliance, and operational obligations when incorporating technology vendors as a fundamental part of their...more
9/10/2021
/ Banking Sector ,
Compliance ,
FDIC ,
Federal Bank Regulatory Agencies ,
Fiduciary Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
FRB ,
OCC ,
Proposed Guidance ,
Securities and Exchange Commission (SEC) ,
Technology ,
Third Party Lenders ,
Third-Party Risk
Senators Inquire about CFPB’s Fintech Agenda -
On July 27, 2021, Senator Sherrod Brown, the Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Consumer Financial Protection...more
9/2/2021
/ Banking Sector ,
Big Tech ,
Blockchain ,
Bureau of Industry and Security (BIS) ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Assets ,
EU ,
Federal Trade Commission (FTC) ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinTech ,
Guidance Update ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Settlement
President Biden Issues an Executive Order on Competition with Implications for Financial Institutions -
On July 9, 2021, President Biden issued an Executive Order on Promoting Competition in the American Economy. The...more
7/20/2021
/ Anti-Money Laundering ,
Banking Sector ,
Biden Administration ,
BSA/AML ,
Colorado ,
Competition ,
Credit Card Surcharges ,
Executive Orders ,
FFIEC ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Information Technology ,
OCC ,
Proposed Guidance ,
Risk Management ,
Third-Party ,
True Lender ,
UDAAP