CSBS

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

State regulators and advocacy groups say a federal breach notification standard could supersede state laws that already benefit consumers.

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

State regulators said Wednesday they will refile a lawsuit against the OCC, attempting to block the agency's new federal bank charter for fintechs.

The Dodd-Frank Act requires that one of the five nonvoting members of the Financial Stability Oversight Council be a state banking supervisor.

Although it’s required to by law, the Federal Deposit Insurance Corp. has not had an independent director with state bank supervisory experience since 2012. It’s time for that to change.

The state became the first in the country to ask federal regulators for a temporary waiver, citing a shortage of available appraisers.

Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy.

The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks.

Lawmakers approved legislation to enable coordination between state and federal regulators on examining banks' third-party vendor relationships.

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.

A new accounting standard will soon go into effect, but banks lack clarity on how to conform.

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.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

The dismissal of a lawsuit challenging the creation of a fintech charter gives the agency more time to refine its policy, but the court ruling may set up future legal challenges.

Facing persistently low loan yields, increased competition and higher regulatory costs, many community banks are at risk of becoming irrelevant unless they rethink their business models.

Cynthia Blankenship, an executive at Bank of the West in Grapevine, Texas, has been a regular in Washington for years fighting for regulatory changes. She is encouraging other bankers to do likewise.

In a recent letter, two trade groups representing that industry lobbied Treasury Secretary Steven Mnuchin to support a bill that would give oversight of nonbank mortgage lenders exclusively to state regulators.

The changes to the National Multistate Licensing System will include a more customized user experience for companies and functionality for states to share examination data.

The deposit insurer has stayed out of the debate over how to regulate the online lending industry. But that may be about to change.