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Troutman Pepper Locke

CSBS Issues Guidance on Virtual Currency and Tangible Net Worth

Troutman Pepper Locke on

On June 26, the Conference of State Bank Supervisors (CSBS) released new guidance regarding the treatment of virtual currency in the calculation of a licensee’s tangible net worth under the Money Transmission Modernization...more

Goodwin

Federal Reserve Proposes Rules To Modernize Regulations That Implement CRA

Goodwin on

In the News. The Board of Governors of the Federal Reserve System (Federal Reserve) proposed rules to modernize the regulations that implement the Community Reinvestment Act (CRA); the Conference of State Bank Supervisors...more

K&L Gates LLP

CSBS Rolls Out Joint Examination Initiative for Nationwide Payments Firms

K&L Gates LLP on

On September 17, the Conference of State Bank Supervisors (CSBS) announced that at least 40 states will establish a joint examination process for “nationwide payments firms” for the 2021 examination cycle. Known as “MSB...more

BCLP

Coming Up: A National Non-Depository Payments Charter?

BCLP on

Brian Brooks, Chief Operating Officer of the Office of the Comptroller of the Currency (“OCC”) said on Monday that he believes the OCC should investigate the viability and utility of a non-depository payments charter: “One of...more

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