Treasury’s fintech report to encourage sandboxes, weigh in on charters
A senior Treasury department official said it's an "adapt or die" situation for regulators and financial firms in the midst of a growing fintech space.
Fintech regulations
How Treasury could come down on fintech regulation
With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.
CFPB looking to hop on fintech sandbox bandwagon
Mick Mulvaney, the agency’s acting director, suggests U.S. startups — like their U.K. counterparts — may eventually be able to test products without fear of regulatory action.
Decision on fintech charter coming this summer: OCC’s Otting
The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.
By
Joe Adler
Opinion A hands-off CFPB might cause trouble for fintechs
As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices.
Michael Ross
Jenner & Block
Bill to unwind Madden ruling clears House, but Senate is question mark
The legislation, introduced by Rep. Patrick McHenry, R-N.C., would essentially reverse a court ruling that marketplace lenders say has blocked them from helping more consumers access credit.
Will multistate licensing plan be enough to woo fintechs?
Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge.
Federal appeals court rules CLOs exempt from risk retention
A three-judge panel for the D.C. Circuit Court of Appeals has sided with the LSTA in its lawsuit seeking to reverse rules requiring CLO managers to hold "skin in the game" under Dodd-Frank.
Five challenges facing SoFi’s new CEO
Stepping in after co-founder Mike Cagney's resignation, Twitter's Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.
Court throws out New York regulator’s suit against OCC fintech charter
A district court judge said the state’s suit against Office of the Comptroller of the Currency is premature because the agency has not finalized its fintech charter nor has any firm applied for it.
U.S. fintech industry jealously eyes U.K. regulatory scheme
British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.
Online lending is ‘natural evolution of banking’: OCC’s Noreika
Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.
States seek single regulatory structure for fintech firms
A handful of state regulators are discussing ways to create a single regulatory structure for fintech companies that are seeking regional or national business.
OCC seeks dismissal of New York fintech charter challenge
The Office of the Comptroller of the Currency is seeking to scrap a challenge to its fintech charter by New York’s bank regulator.
‘New York doesn’t allow that’: Maria Vullo stares down fintechs, OCC
While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.
