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10 Takeaways From The OCC Conference On Responsible Innovation

South State Correspondent

It was essentially a 300+ person discussion around the March white paper the OCC produced ( HERE ). We give the OCC props for organizing this first class workshop that brought lawyers, fintech, banks, community activists, consultants and regulators together to exchange ideas. last week about responsible innovation.

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Trade groups take aim at CFPB’s expansion of UDAAP authority

CFPB Monitor

The four groups are the American Bankers Association, the Consumer Bankers, the Independent Community Bankers of America, and the U.S. The white paper concludes as follows: The CFPB’s action has tremendous implications for consumers, banks, and for financial markets at large. Chamber of Commerce.

Groups 145
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America’s troubled regulatory regime laid bare by the OCC

Chris Skinner

This would enable a FinTech to go through ONE regulator to get to market, rather than the 200 or more they would have go through today. In March, the OCC issued the white paper that described in depth the application process to get a national bank charter, and we all thought it would then go ahead without a hitch.

America 211
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Customer Support at Abrigo Provides Peace of Mind

Abrigo

Learn from your peers and hear what problems they are dealing with in our Abrigo Community, exclusive to our customers. Community financial institutions are often tasked with doing more with less. The ADC is a highly resilient environment with risk monitoring levels not currently sustainable by typical community financial institutions.

Software 195
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Community groups want CFPB action on small business lending data collection rules

CFPB Monitor

A recent American Banker article written by officials of three community groups urges President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small business lending data requirements of Dodd-Frank Section 1071.

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The CFPB Is Taking A Closer Look At SMB Credit Access

PYMNTS

Small businesses fuel America’s economic engine, create jobs and nurture communities. At present, the CFPB is soliciting outside comment from small businesses, consumer groups, community development organizations, bank and non-bank lenders, regulators and other interested parties.

Lending 108
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OCC to hold forum on financial innovation

CFPB Monitor

.” The forum will bring together representatives from banks, financial technology companies, and community and consumer groups to discuss developments, opportunities, and challenges related to financial innovation. The white paper discusses the OCC’s eight guiding principles for responsible financial innovation.