Fintech regulations

Over the past year, the focus of several banking policymakers has been how much the regulatory pendulum might swing back toward the industry’s liking. That theme will likely continue in 2018.

Banks plan to spend more on blockchain and AI in the coming year, and appear willing to explore new technology partnerships.

Banks plan to spend more on blockchain and AI in the coming year, and appear willing to explore new technology partnerships.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

Key efforts for banks include developing AI applications, adding fintech allies and strengthening cyberdefenses.

The Silicon Valley payment processor is firing back at critics who say its bid for a bank charter would open the door to similar gambits by tech giants. Community activists, meanwhile, seem to be coming around to the idea of Square opening a bank.

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.

A district court judge said the state’s suit against Office of the Comptroller of the Currency is premature because the agency has not finalized its fintech charter nor has any firm applied for it.

Some are in new roles or replacing legends, others are embracing new strategies or eyeing big deals and at least one is currently out of banking — but could soon resurface. Here are the industry executives to keep an eye on in 2018.

Tether's $31 million hack gave bitcoin skeptics plenty to crow about. But experts say bad security is to blame, not digital assets.