Fintech regulations

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

2019 has already seen billions of dollars in fintech M&A. The deals have come at a rapid enough pace that acquirers are often buying companies that are still absorbing deals of their own.

2019 has already seen billions of dollars in fintech M&A. The deals have come at a rapid enough pace that acquirers are often buying companies that are still absorbing deals of their own.

While there’s been dramatic innovation in the banking sector in recent years, regulators and startups can better collaborate around these developments.

Boston-based Trio is openly offering its cash management account as capital at risk, offering big incentives if consumers agree to sign up for an uninsured account.

Subhankar Sinha, the bank’s new head of blockchain, says its partnership with Bakkt is part of a larger effort to figure out what it would look like to be a custodian for digital assets.

While there’s been dramatic innovation in the banking sector in recent years, regulators and startups can better collaborate around these developments.

The measures are likely to raise security costs for the German smartphone bank backed by billionaires Peter Thiel and Li Ka-shing.

The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.

A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.

Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.

The Office of the Comptroller of the Currency had sought to dismiss the case, but a court ruling suggested that the state regulator’s claim may have merit.

The head of the agency's innovation office said the program will be available only to OCC-regulated institutions.

Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”

The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions.

At a fintech event hosted by the FDIC, the agency’s chief and the head of the OCC offered their views on a wide range of matters.

Silicon Valley, New York, London and several of China’s largest cities are the world’s leading fintech hubs, but many other locales are gunning for their crown.

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.

The cryptocurrency exchange Bittrex is protesting New York's decision this week to deny it a virtual license exchange, claiming that its rationale contains factual errors and its personnel were not well versed in blockchain.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.