Fintech regulations

The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.

The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.

Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

Many in the industry support the National Credit Union Administration’s attempts to streamline regulations governing corporate credit unions, but critics claimed some elements could make it tougher to compete with fintechs.

Two trade organizations and a consumer group urged lawmakers to establish a three-year moratorium to block the charter bids of companies that they said were attempting to skirt regulatory requirements.

Securities laws, in spite of their shortcomings, exist for very good reasons: to regulate the fair exchange of units of ownership, to protect individuals from fraud or exploitation and to identify bad actors and hold them accountable.

Members of Congress question whether the company is doing enough to protect inexperienced customers engaging in high-risk investing.

Technology has helped banks expand globally, but complying with country-specific laws restricting data flows is a constant struggle.

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

Technology has helped banks expand globally, but complying with country-specific laws restricting data flows is a constant struggle.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

Acting Comptroller of the Currency Brian Brooks says financial institutions are needed more than ever to “sustain existing businesses” and help entrepreneurs rebuild. Meanwhile, reforming the Community Reinvestment Act, he says, can “unblock opportunities” in minority neighborhoods.

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.