Application programming interfaces allow software programs to talk to each other. They are a potential solution to the current industry standoff over sharing of bank customer data with aggregation sites; in the long term, they could transform how banking is done, making customer relationships less sticky but opening up new revenue models for financial institutions. This paper lays out the basic issues surrounding APIs.
The Office of the Comptroller's interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency's interpretation may push the ambiguous statute beyond its limits.
CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
The Brazil-based fintech got conditional approval from the OCC to bring its digital banking services to U.S. customers.
American Banker research finds that most institutions are still planning out adoption, but see new data sharing products as crucial tools for growth.
A Government Accountability Office report warns the Office of the Comptroller of the Currency to clarify which records from the Basel Committee on Banking Supervision should be treated as federal records and thus retained according to the Federal Records Act.
The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.
