The Fintech Times

MARCH 6, 2024

The regulatory tides may be changing in the US, as the Office of the Comptroller of the Currency (OCC) suggests banks should be doing more to manage risks related to partnering with fintech firms. Rick Kuci, COO of FundKite “Unfortunately, many banks caused this risk issue for themselves.

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OCC FinTech Non-Bank Regulations 69

PYMNTS

SEPTEMBER 30, 2020

Overseen by the Office of the Comptroller of the Currency (OCC), the charter would allow firms like Facebook, Google or Amazon to bypass the process by which they need to collect money transmitter licenses state by state. But last fall, a federal appeals court questioned the OCC’s authority to issue such a charter.

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Office of the Comptroller of the Currency OCC Non-Bank Regulations 139

PYMNTS

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. 21) press release. Acting Comptroller of the Currency Brian P.

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Office of the Comptroller of the Currency Stablecoins Fraud Prevention OCC 68

PYMNTS

MARCH 7, 2017

To be clear, the National Bank Act does give the OCC the legal authority to grant national bank charters to companies engaged in the business of banking,” Murray told the conference. Vullo wrote that the OCC “should not use technological advances as an excuse to attempt to usurp state laws that already regulate fintech activities.”.

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OCC FinTech Non-Bank Laws 40

The Fintech Times

JULY 31, 2024

With the OCC consent orders against BaaS banks and bad press plaguing B2C BaaS platforms, regulators are extra scrutinising when it comes to all types of BaaS platforms, catching those in the middle that are B2B or Business to Nonprofit. “Adhering to stringent data protection laws is a primary challenge.

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Compliance AML Regulations Due Diligence 64

Clearly Payments

FEBRUARY 8, 2024

It monitors and enforces regulations related to payment products and services to ensure fair treatment and transparency for consumers. Office of the Comptroller of the Currency (OCC): As an independent bureau within the U.S. Department of the Treasury, the OCC supervises and regulates national banks and federal savings associations.

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Regulations Electronic Fund Transfer Act (EFTA) Federal Reserve Electronic Funds Transfer (EFT) 81

PYMNTS

OCTOBER 23, 2019

Office of the Comptroller of the Currency (OCC) does not have the power to grant national charters to financial technology (FinTech) companies, The Wall Street Journal reported on Tuesday (Oct. An increasing number of banks are swapping their own regulators in exchange for oversight by the OCC. The court decision on Monday (Oct.

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OCC Office of the Comptroller of the Currency Rules FinTech 40