On July 25, 2024, the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued a joint statement describing potential...more
The Federal Deposit Insurance Corporation (FDIC) recently published a consent order issued against Cross River Bank that alleged the bank’s fair lending program’s noncompliance and weaknesses in its oversight of fintech...more
6/21/2023
/ Banking Regulators ,
Banks ,
Compliance ,
Consent ,
Due Diligence ,
Enforcement ,
Fair Lending ,
FDIC ,
FinTech ,
Notice of Non-Compliance ,
OCC ,
Partnerships ,
Risk Assessment
New York will for the first time require companies that hold a BitLicense to pay annual assessment fees.
The new fee will increase the already high cost of obtaining a BitLicense and operating a crypto business in New...more
Fintechs and other nonbanks will be required to provide consumer-style disclosures when offering to extend small business financing in New York.
In late December 2020, New York Governor Andrew Cuomo signed into law...more