Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

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.

OCC 69

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. They argue that the OCC would oversee the new charter holders — but not as rigorously as state regulators would.

Office of the Comptroller of the Currency 139

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

The Fintech Times

JULY 31, 2024

The evolving nature of fintech regulations requires platforms to be agile, constantly updating their compliance strategies to align with new laws and guidelines. “Adhering to stringent data protection laws is a primary challenge. In the US, he warns that firms could be caught out by new regulations regarding raising funds.

Compliance 64

Compliance AML Regulations Due Diligence 64

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

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.

Office of the Comptroller of the Currency 68

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

FICO

JANUARY 13, 2020

The FCC will issue updated interpretations of the Telephone Consumer Protection Act in 2020. The Telephone Consumer Protection Act (TCPA) has long been a concern to many organizations that are frustrated by their inability to effectively use modern technology to communicate with their customers or members.

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AML Authentication Finance OCC 52