News & Analysis as of

Banking Sector FRB FinTech

Latham & Watkins LLP

FRB Rescinds Previous Guidance Regarding Crypto Activities in the Banking Sector

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FRB eases crypto restrictions on supervised entities in alignment with the new administration’s support for the digital asset industry....more

Latham & Watkins LLP

FRB Clarifies Supervision of Digital Assets and Bank-Fintech Partnerships

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A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity. On August 8, 2023, the Board of Governors of the Federal...more

Latham & Watkins LLP

Agencies Issue Guidance for Banking Organizations on Managing Risk in Third-Party Relationships

Latham & Watkins LLP on

The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs. On June 6, 2023, the Federal Deposit Insurance Corporation...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

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In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Morrison & Foerster LLP

Financial Services Report – Winter 2020

Morrison & Foerster LLP on

Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more

Davis Wright Tremaine LLP

FinTech and the Federal Reserve: Consumer Compliance Supervision Bulletin Focuses on FinTech

The Federal Reserve Board’s (FRB) December 2019 Consumer Compliance Supervision Bulletin (December Bulletin) focuses on FinTech....more

Kilpatrick

Where Do Consumers Fit in the Fintech Stack?

Kilpatrick on

Federal Reserve Board Governor Lael Brainard recently delivered a speech entitled “Where Do Consumers Fit in the Fintech Stack?” at “FinTech Risks and Opportunities: An Interdisciplinary Approach,” a conference sponsored by...more

Davis Wright Tremaine LLP

FRB Governor Indicates Data Aggregators Could Impact Bank Safety & Soundness as Part of the “Fintech Stack”

In a recent speech at the Northwestern Kellogg Public-Private Interface Conference, Federal Reserve Board Governor Lael Brainard indicated that the relationships between banks and data aggregators within the “fintech stack”...more

K&L Gates LLP

OCC Explores Special Purpose National Bank Charter for Fintech Companies

K&L Gates LLP on

On December 2, 2016, the Office of the Comptroller of the Currency (“OCC”) announced its plans to move forward with a proposal to consider applications from financial technology (“fintech”) companies to receive charters as...more

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