Fintech regulations

A group of state regulators has signed off on 14 recommendations, developed by the fintech industry, aimed at streamlining multistate licensing and supervision.

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.

The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.

Lawmakers should step in to address the proper status of loans made by banks that have partnered with fintechs, rather than letting the courts decide.

Undercover cops arrested a Miami Beach man for trying to sell bitcoin for dollars. Carlton Fields attorney Matthew Kohen explains what the case means to banks.

Wide coverage of the mega-deal between BB&T and SunTrust; GSE reform, CFPB underwriting rule are on collision course; Swift showing more swagger in its rivalry with Ripple; and more from this week's most-read stories.

Steve Boms, executive director of the Financial Data and Technology Association, says open banking standards are needed for U.S. banks and fintechs to follow.

Policymakers need to update banking regulations to minimize the risks posed by technology companies entering financial services, a well-known policy analyst says in a new paper.

The bureau’s updated no-action-letter policy and “product sandbox” proposal are important steps in helping the industry adapt during this period of rapid change.

Biometric technology adoption is on the rise, meaning credit unions need to think about how to utilize this for both members and employees.

Banks spend heavily on marketing to win deposits, push digital; Wells Fargo bends to critics in its latest response to scandals; FDIC review of brokered deposits has big implications for branches; and more from this week's most-read stories.

Federal Reserve Chairman Jerome Powell said a messy breakup between the United Kingdom and European Union could pose risks to the economy and financial system.

Big data and artificial intelligence will allow banks to do more for small businesses, former SBA head Karen Mills argues.

The bipartisan legislation would establish a task force to study how bad actors exploit new technologies and reward tips that lead to criminal convictions, among other things.

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk.

As suspense builds over which firm will be the first to seek the special-purpose charter, a side discussion has emerged over which financial services sector has the most to gain — or lose — from the new option.

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk.

EU states such as Belgium, Lithuania and Ireland are offering e-money institution, payments institution or banking licenses to fintechs, which can be passported across Europe, in anticipation of the U.K. losing its ability to do so after Brexit. But there is no cross-border deposit protection for European consumers holding accounts at EU banks with passported licenses.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.