NYDFS

With fintech firms seemingly stuck in neutral in their efforts to gain banking charters, alternative state licensing options could get another look in 2020.

With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.

In October, U.S. District Judge Victor Marrero ruled against the OCC in a case brought by the New York State Department of Financial Services.

The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York.

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups.

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups.

The New York State Department of Financial Services is opening a probe into Goldman Sachs' credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card's algorithms.

The judge sided with the New York State Department of Financial Services, which had sued the OCC over the proposed charter.

Linda Lacewell, New York’s superintendent of financial services, said the CFPB's debt collection proposal does not go far enough to protect consumers.

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.

The former state banking superintendent weighs in on some of the toughest questions bank regulators are grappling with and the lawsuit (still ongoing) that she filed against the OCC.

Maria Vullo served for three years as New York's top banking regulator.

In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can't afford to pay back. The question is, what are policymakers going to do about it?

A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.

The Office of the Comptroller of the Currency had sought to dismiss the case, but a court ruling suggested that the state regulator’s claim may have merit.

Conduent Education Services has agreed to pay $3.9 million to the CFPB for failing to provide accurate account balances on more than 200,000 student loans.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

The cryptocurrency exchange Bittrex is protesting New York's decision this week to deny it a virtual license exchange, claiming that its rationale contains factual errors and its personnel were not well versed in blockchain.

The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran.

The agency refuted claims by the Conference of State Bank Supervisors that the OCC was overstepping its authority.