FDIC Fintech New York Regulation 
PYMNTS
MARCH 18, 2020
The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). In 1987, parent banks were allowed to bypass FDIC oversight and regulations. .
CFPB Monitor
JUNE 15, 2022
Four Democratic members of the California state legislature recently sent a letter to the Federal Deposit Insurance Corporation (FDIC) urging the agency to take action against FDIC-supervised banks that partner with non-bank lenders to originate high-cost installment loans.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
PYMNTS
OCTOBER 24, 2019
Lights out for the FinTech charter idea? The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have given FinTechs a leg up on competing with traditional financial services companies. District Court for the Southern District of New York ruled Monday (Oct.
CFPB Monitor
JUNE 29, 2020
The FDIC has issued its widely anticipated final rule resolving the uncertainty caused by the Second Circuit’s Madden v. The FDIC’s Notice of Proposed Rulemaking (“NPR”) was published the same week as an OCC proposed rule intended to address the same issue for national banks under Section 85. Midland Funding decision. to 1:00 p.m.
PYMNTS
JULY 15, 2020
European FinTech Revolut, which recently debuted in the U.S. said Revolut is its first customer for its new product, the Paxos Crypto Brokerage. debut in March, teaming up with Metropolitan Commercial Bank to offer FDIC -insured accounts that can be opened and accessed through smartphones. Revolut made its U.S.
PYMNTS
AUGUST 16, 2019
Axos Bank parent company Axos Financial has rolled out out commercial banking operations across new markets in the U.S., and offer clients FDIC-insured accounts. It was the latest example of the bank-FinTech collaboration trend expanding across borders to help FinTechs enter new geographic markets and comply with local regulations.
CFPB Monitor
JANUARY 5, 2021
federal district court challenging the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. According to CSBS, Figure’s charter application is intended to further “the OCC’s stated goal of deliberately maneuvering around the adverse [New York federal district court ruling in Vullo v.
Expert insights. Personalized for you.
142 
Let's personalize your content