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Troutman Pepper Locke

CSBS Issues Guidance on Virtual Currency and Tangible Net Worth

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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

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 64: Navigating Multistate Licensing and Supervision in a Digital Era

RegFi co-hosts Jerry Buckley and Sherry Safchuk are joined by Orrick partner Jedd Bellman, former Maryland Assistant Commissioner of Financial Regulation, for a deep dive into the evolving role of state regulators in...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Ballard Spahr LLP

Conference of State Bank Supervisors files new lawsuit to block OCC approval of Figure Technologies charter application

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The Conference of State Bank Supervisors (CSBS) has filed a lawsuit in D.C. federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. According to the complaint, Figure,...more

Hudson Cook, LLP

The Different Flavors of RegTech and SupTech: How Companies and Regulatory Agencies Are Leveraging Technology to Improve...

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When the calendar turned to 2020, my first thought was about how futuristic the year sounded and what kind of interesting things it had in store. At that time, no one could possibly have imagined that some of those...more

Troutman Pepper Locke

CSBS Continues Streamlining of Licensing for Payments Firms Through 'One Company, One Exam' Program

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On September 15, the Conference of State Bank Supervisors (CSBS) announced that money transmitters operating in 40 or more states will be able to take advantage of a new, comprehensive exam designed to satisfy all state money...more

Ballard Spahr LLP

State Bank Regulators Launch Single-Exam Plan for Multistate Money Transmitters in wake of OCC’s Payments Charter Proposal

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The Conference of State Bank Supervisors (CSBS) recently announced plans to establish a program under which money transmitters licensed in multiple states will undergo a single comprehensive exam that seeks to satisfy all...more

Kilpatrick

Banking on the Business of Banking: How the 2nd Circuit's Ruling in Lacewell v. OCC Could Change the Future of Fintech Regulation

Kilpatrick on

Despite often operating on a nationwide scale, fintech companies rarely meet the stringent requirements for obtaining a national banking charter. Under the current regulatory landscape, these companies must therefore secure...more

Ballard Spahr LLP

OCC appeals NY federal district court final judgment in NYDFS lawsuit challenging fintech charter

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The OCC has appealed to the Second Circuit from the district court’s final judgment entered in October 2019 in the lawsuit filed by the New York Department of Financial Services seeking to block the OCC’s issuance of special...more

Morrison & Foerster LLP

Money Transmission Licensing Developments in Rhode Island and Michigan

Perhaps the biggest recent news in the ever-changing money transmission regulatory landscape is the draft model language for standardized regulation of multistate money services businesses that was proposed by the Conference...more

A&O Shearman

US Court Rejects Suit Over Office of the Comptroller of the Currency FinTech Charter

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Judge Dabney Friedrich of the U.S. District Court for the District of Columbia has dismissed a lawsuit brought by the Conference of State Bank Supervisors (CSBS) that would have prevented the Office of the Comptroller of the...more

Ballard Spahr LLP

Court dismisses lawsuit filed by state regulators to block OCC fintech charter

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The D.C. federal district court has granted the OCC’s motion to dismiss the lawsuit filed by the Conference of State Bank Supervisors (CSBS) to block the OCC from issuing special purpose national bank (SPNB) charters to...more

Nutter McClennen & Fish LLP

Fintech in Brief: CSBS Challenge to OCC Fintech Charter Dismissed

On September 3, 2019, Judge Dabney Friedrich of the U.S. District Court for the District of Columbia dismissed the Conference of State Bank Supervisors’ (“CSBS”) second suit challenging the Office of the Comptroller of the...more

Ballard Spahr LLP

CSBS Launches Three Online Tools for the Financial Services Industry

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On August 21, 2019 the Conference of State Bank Supervisors (“CSBS”) launched three new online tools designed to help non-bank financial services companies navigate state regulations and protect against cyber security risks:...more

A&O Shearman

US Conference of State Bank Supervisors Endorses FinTech Recommendations

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The U.S. Conference of State Bank Supervisors (CSBS), the nationwide organization of financial regulators from all fifty U.S. states, the District of Columbia, Guam, Puerto Rico, American Samoa, and the U.S. Virgin Islands,...more

Nutter McClennen & Fish LLP

Fintech in Brief

On February 14, 2019, the Conference of State Bank Supervisors (“CSBS”), the national organization of state bank regulators, released the recommendations of its 33-member Vision 2020 Fintech Industry Advisory Panel....more

Ballard Spahr LLP

State regulators file second lawsuit opposing OCC fintech charter

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The Conference of State Bank Supervisors (CSBS) has filed a second lawsuit in D.C. federal district court to stop the Office of the Comptroller of the Currency (OCC) from issuing special purpose national bank (SPNB) charters...more

Clark Hill PLC

Despite a Legal Setback - States Continue to Move Forward in Fintech Innovation

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For more than two years, the Office of the Comptroller of the Currency (“OCC”) has studied the regulatory impacts of innovations in financial technology. In March, 2016 it published a white paper regarding innovation in the...more

Ballard Spahr LLP

Federal court dismisses second lawsuit challenging OCC fintech company special purpose national bank charter proposal

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A D.C. federal district court has dismissed the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in April 2017 challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to...more

Ballard Spahr LLP

Court dismisses NYDFS lawsuit challenging special purpose national bank charter for fintech companies

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A New York federal district court has dismissed the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to nondepository...more

Ballard Spahr LLP

Conference of State Bank Supervisors names fintech advisory panel members

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The Conference of State Bank Supervisors has released a list of 33 companies that will serve as members of its Fintech Industry Advisory Panel. According to the CSBS, the Advisory Panel’s purpose is “to support state...more

Goodwin

Financial Services Weekly News - July 2017

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Editor's Note - Fireworks After the July 4th Holiday. On July 10, the Consumer Financial Protection Bureau (CFPB) issued the highly anticipated final Arbitration Rule, which prohibits the use of mandatory arbitration...more

Goodwin

Financial Services Weekly News - May 2017 #3

Goodwin on

Editor's Note - The Dual Banking System is Working. In the April 26 edition of the Roundup, we noted that the Conference of State Bank Supervisors (CSBS) had sued the Office of the Comptroller of the Currency (OCC),...more

Eversheds Sutherland (US) LLP

Update on the OCC Fintech Charter: The Current Lay of the Land

The Office of the Comptroller of the Currency (OCC) is considering allowing financial technology (fintech) companies to be chartered as special-purpose national banks. Although the planning is still at a preliminary stage,...more

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