Fintech regulations

The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.

The former head of the agency’s innovation initiative, Project Catalyst, argues the bureau can take several steps to update its innovation policies.

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

The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications.

Readers react to a new housing finance reform plan, weigh systemic risks posed by fintechs, debate the potential return of the Glass-Steagall Act and more.

The former head of the agency’s innovation initiative, Project Catalyst, argues the bureau can take several steps to update its innovation policies.

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

Varo Money just received conditional approval from the OCC. Now it has to raise capital, create a CRA plan and get a go-ahead from the FDIC.

The law could further boost the state’s already vibrant financial services sector as well as spur additional innovation across the state’s economy, writes Valentina Isakina, financial services marketing director for JobsOhio.

PNC's Todd Barnhart, incoming Consumer Bankers Association chair, says the group is concentrating on the impending process of modernizing the Community Reinvestment Act among other issues that do not require action on Capitol Hill.

For any emerging technology, skepticism is natural and blockchain will need to prove itself before it is widely adopted, writes David Hanson, co-CEO of Ultra.

Concentration risk, threats to data privacy and the potential for discrimination are among the unintended consequences of letting fintechs and tech giants dabble in financial services without bank-like regulation, an expert says.

Industry experts weigh in on potential pros and cons of the new fintech charter and how it might ultimately impact credit unions.

The OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

The agency is seeking public comment on how to reform the Community Reinvestment Act — a big step forward without the Fed or the FDIC on board.

To compete with fintech startups, banks need to find more ways to use the mountains of data already at their disposal.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

The best thing a banker can do today is regard the U.K. as a real-world fintech laboratory, track developments closely and seek opportunities to capitalize on change, writes Naomi Bowman, managing director for Berkeley Research Group in London.

Thibault Fulconis recently became CFO of the digital banking venture Varo Money, which has applied for a national bank charter.