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U.S. Treasury Financial Institutions FinTech

A&O Shearman

UK Regulators Consult on Digital Securities Sandbox

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On April 3, 2024, the Bank of England and U.K. Financial Conduct Authority published a joint consultation paper on proposed rules for the incoming digital securities sandbox. The Financial Services and Markets Act 2023...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2023

Headlines 1. Recent Bank Failures The FDIC has issued a final rule that will impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from the systemic risk determination announced on March...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q4 2022

In this latest issue of Wilson Sonsini's Focus on Fintech newsletter, we discuss the FTX bankruptcy and the increased federal regulatory scrutiny of crypto assets, and new rules and innovations in the payments...more

Wilson Sonsini Goodrich & Rosati

Money in 2023: What Tech Companies Need to Know About Instant Payments and FedNow

Technology companies in the payments space should pay close attention to the Federal Reserve’s (the Fed’s) upcoming launch of a long-awaited new payment system, the FedNow Service. The system will change the consumer payments...more

Wilson Sonsini Goodrich & Rosati

Big Tech’s Competition Impacts on Payments and Retail Finance in Regulatory Spotlight

The UK Financial Conduct Authority (FCA) recently published a discussion paper (here) summarizing its preliminary findings on the potential competition impact of Big Tech entry into retail financial services. The FCA is now...more

Sheppard Mullin Richter & Hampton LLP

Treasury Report Sets Guidelines For Oversight on FinTech Participation in Core Finance Markets

The U.S. Department of the Treasury recently released a report titled “Assessing Impacts of New Entrant Non-bank Firms on Competition in Consumer Finance Markets,” a product of the Biden administration’s effort to assess...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, May 19, 2022

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Congress - U.S. House of Representatives - Committee on Small Business - Committee Holds Hearing on Oversight of SBA Office in Charge of Loan Programs...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

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Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Nutter McClennen & Fish LLP

Fintech in Brief: Banking Agencies Request Information on the Use of Artificial Intelligence by Financial Institutions

On March 29, 2021, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency...more

Nutter McClennen & Fish LLP

Fintech In Brief: Four U.S. Prudential and Market Regulators join GFIN

On October 24, 2019, four federal regulators took a significant step toward international regulatory collaboration in financial innovation when the Commodities Futures Trading Commission (CFTC), Federal Deposit Insurance...more

White & Case LLP

Review of Anti-Money Laundering and Sanctions Policy and Enforcement

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TABLE OF CONTENTS: Executive Summary - Developments and Trends in Policy and Enforcement - US Department of the Treasury - The Office of Foreign Assets Control - Treasury's Financial Crimes Enforcement Network -...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

Ballard Spahr LLP

Treasury report promotes data aggregators in the consumer financial services ecosystem

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The U.S. Department of the Treasury’s recent report evaluating economic opportunities presented by nonbank financial institution and fintech company innovations includes a detailed account of current data aggregation...more

Goodwin

Financial Services Weekly Roundup - August 2018 #2

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Editor's Note - Additional Regulatory Support for Financial Innovation. Last week, the Roundup reported that the Office of the Comptroller of the Currency (OCC) would begin accepting applications for special purpose national...more

McGuireWoods LLP

U.S. Treasury Recommends National Data Breach Standard

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The U.S. Treasury recently released a report identifying improvements that would support nonbank financial institutions but also embrace innovation and technology. Among other things, the report recommends the creation of a...more

King & Spalding

Treasury Releases Report On Technology Innovation And Use Of Consumer Data By Nonbank Financial Institutions

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On July 31, the U.S. Department of the Treasury (“Treasury”) released a report outlining recommendations to streamline and modernize the regulatory environment to “better support nonbank financial institutions, embrace...more

Kilpatrick

Treasury Department Releases Report on Nonbank Financial Firms, Fintech, and Innovation

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On July 31, 2018, the United States Department of the Treasury released a report identifying improvements to the regulatory landscape that the agency believes will better support nonbank financial institutions, embrace...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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A review of the Fed minutes released yesterday shows the willingness of some Fed Governors to start rate raising again sooner rather than later....more

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