Fintech regulations

Congressional action is necessary to give financial regulators the tools they need to promote responsible innovation.

The Conference of State Bank Supervisors announced a raft of measures Tuesday designed to simplify multistate licensing and regulatory oversight for fintechs and other companies registered as money-services businesses.

Fintech companies can help consumers and small businesses obtain credit at lower costs, but it is critical to ensure that these innovative companies do not harm borrowers with predatory or discriminatory lending practices.

Access to banking information ensures advisors can perform holistic planning, fintech firms say.

The Office of the Comptroller of the Currency’s proposal to require fintech charter applicants to draft and comply with a financial inclusion plan appears to have more teeth than similar Community Reinvestment Act requirements for banks.

In a speech, Consumer Financial Protection Bureau Director Richard Cordray said the agency enforces “with the principle of equal justice” so enforcement actions don’t seem random.

Readers sound off on airing political opinions at the office; putting banks and fintechs under the same regulatory umbrella; putting consumer needs first regardless of tech advancements; and more.

An improved state-level system could be a tremendous advantage. Working closely with a cooperative regulator, innovators large and small can rapidly test a concept within state lines.

New York State Department of Financial Services Superintendent Maria T. Vullo speaks out on cybersecurity regulation, cracking down on bad actors in the industry and the OCC's fintech charter.

New York State Department of Financial Services Superintendent Maria T. Vullo speaks out on cybersecurity regulation, cracking down on bad actors in the industry and the OCC's fintech charter.

The OCC’s draft fintech charter requirements are far from perfect. States can seize this chance and collectively create a better regulatory environment for fintechs.

The Office of the Comptroller of the Currency is trying to do its part to address fintech regulation, but the OCC lacks the mandate to solve the broader fintech issues facing the entire financial ecosystem.

We need to continue the dialogue between state regulators and fintech firms on a broad range of important issues impacting this growing industry.

Instead of waiting to be disrupted by fintech startups, a pair of credit unions are rethinking what they are, who they serve and how they do it — and it's paying off by bringing younger members into the fold.

David Cotney, former Massachusetts banking commissioner, will guide compliance for the New Jersey bank, a critical partner for many fintech startups.

It is easy for banks to get caught up in what appears innovative but ends up being for show.

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The Office of the Comptroller of the Currency on Wednesday released more information on how it plans to evaluate and supervise fintech companies seeking a bank charter.

New York's financial regulator had sought to expand licensing requirements for certain fintech firms through a provision in the state's budget, but the provision was not included.

In trying to defend the fintech charter from attacks on the left, Comptroller Thomas Curry wound up frustrating the GOP.