Newsletters

12.05.18

FDIC Encourages Small-Dollar Lending in New RFI

The Federal Deposit Insurance Corporation (FDIC) has signaled renewed interest in small-dollar lending.


11.07.18

Regulators Embrace Innovation

“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 Securities and Exchange Commission (SEC) launching what it ...


10.24.18

A Need for Speed: FRB Considers Options for Faster Payments

In an effort to facilitate real-time interbank settlement of faster payments, the Federal Reserve Board (FRB) is asking for input from industry stakeholders on the best options.


10.10.18

New York DFS Files Second Suit Over OCC Fintech Charter

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 Special Purpose National Bank Charters.


10.10.18

Latest Buzz: Is California Regulator Readying New Financial Regulations?

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 asking for details about their annual percentage rates (APRs) and online ...


08.29.18

FinCEN Director Gets Real About Virtual Currency

Financial Crimes Enforcement Network (FinCEN) Director Kenneth A. Blanco recently discussed his agency’s efforts in the area of virtual currency, explaining the fine line between encouraging innovation and protecting consumers.


08.29.18

State Regulators Busy With Fintech Sandbox, Investigation and Settlement

In state-specific news, Arizona opened its sandbox for fintech play, Lending Club revealed that Massachusetts is following in the footsteps of the Federal Trade Commission (FTC) and the Georgia attorney general reached a $75,000 settlement with a financial institution over unauthorized fees.


08.16.18

States Take Action on Bitcoin Online Lending

State regulators are keeping a close eye on cryptocurrency and digital lending activities, with a cease and desist order involving bitcoin and a new law targeting online lenders.


08.03.18

OCC to Accept Fintech Charter Applications. What Happens Next?

In a decision long anticipated by the fintech industry and opposed by multiple state regulators, on July 31 the Office of the Comptroller of the Currency (OCC) announced it will accept applications for special purpose national bank charters for fintech companies.


08.02.18

New York’s DFS Report Could Yield Increased Regulation

Based on a law requiring a survey of online lending in the state, New York’s Department of Financial Services (DFS) issued a report on the methods of operation, lending practices, and risks and benefits of online lending, including recommendations that could lead to additional regulation of ...