Fintech regulations

A week after acting Comptroller of the Currency Keith Noreika announced his support for the fintech charter, his agency argued in a court filing that its fate was too uncertain to be challenged in court.

Readers react to the CFPB’s final arbitration rule, a new potential hurdle for initial coin offerings, a housing finance reform proposal and more.

Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.

Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.

Varo Money, an app designed for people who want to exclusively bank on their cell phones, announced Tuesday that it has filed formal applications for a national bank charter, adding another credit union competitor to the banking landscape.

Varo Money, an app designed for people who want to bank exclusively on their cellphones, announced Tuesday that it has filed formal applications for a national bank charter.

In recent years, the country’s largest cellphone carriers have begun to experiment with new financing options for smartphones and other devices. That forebodes a deeper interest in financial products.

Readers question acting comptroller Noreika, weigh in on SoFi’s charter application, defend Trump’s exit from the Paris Accord, and more.

Acting Comptroller of the Currency Keith Noreika made it clear that he supports the creation of a federal charter for fintech firms while also arguing that abusive lending happens at state-chartered firms, not national banks.

While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.