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OCC

FintechNews RoundupUSA
·May. 3, 2019

OCC Provides More Details on Innovation Pilot

According to Beth Knickerbocker, the OCC’s Chief Innovation Officer, the pilot program for banks to test innovative products will be...
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FintechNews RoundupUSA
·Apr. 30, 2019

OCC Seeks Comments on Fintech Pilot Program

The OCC is looking for feedback on whether to launch a program for banks and vendors to test new financial...
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FintechNews RoundupUSA
·Apr. 25, 2019

Highlights from the FDIC Fintech Event

Regulators and fintech leaders gathered in Washington DC yesterday to discuss the fintech chartering process and some of the biggest challenges...
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News
·Jul. 31, 2018

OCC Announces Fintech Charter on the Heels of US Treasury’s Report on Fintech

The OCC Fintech Charter was formally proposed back in December 2016. Along with many other organizations we responded to their...
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FintechNews RoundupUSA
·May. 2, 2018

Judge Dismisses States’ Lawsuit Over Fintech Charter

The case put forward by the Conference of State Bank Supervisors which challenged the OCC’s fintech charter has been dismissed...
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FintechNews RoundupUSA
·May. 3, 2019

New York Judge Creates a Major Roadblock for the OCC Fintech Charter

Yesterday, a New York federal judge ruled that the New York Department of Financial Services (NYDFS) could proceed with two...
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Embedded Financemarketingneobankroboadvisor
·Apr. 29, 2019

Wealthfront’s $1 Billion of Cash in Two Months

In news of cross-selling financial products across categories, roboadvisor Wealthfront has gathered a nifty $1 billion of deposit assets for its 2.29% interest-yielding non-bank cash account. Given that the firm has a little over $10 billion in managed investment assets, charges somewhere between 0 and 25 bps on those assets, and took years of wiggly pivoting to get to the current stage, it is fair to consider this influx a big win in terms of client traction. It is also $22 million of annual interest payments. A couple of things come to mind that are worth pulling apart.

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FintechNews RoundupUSA
·Jan. 16, 2019

Comptroller Otting Discusses Fintech Charter Concerns

Otting said Wednesday to reporters that no firms considering the OCC Fintech Charter have mentioned concerns about the Fed standing...
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FintechNews RoundupUSA
·May. 24, 2018

The OCC Wants Banks to Start Making Riskier Loans to Compete With Payday Lenders

The Office of the Comptroller of the Currency (OCC), a national bank regulator, said yesterday that it encourages financial firms...
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FintechNews RoundupUSA
·Mar. 13, 2018

Regulators Looks to be More Flexible in Oversight of Bank/Fintech Partnerships

Leaders at the Federal Reserve, the OCC and the CFPB spoke at the Consumer Bankers Association annual conference about the need to be more flexible when applying oversight to bank & fintech partnerships; “We need to do a better job of educating our supervision staff, in some cases, in terms of interpretation of the guidance,” said Dan Quan, who leads the CFPB’s Project Catalyst, as reported by American Banker; they also talked about better coordination to ensure consistency in oversight. Source.

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