JP Morgan Chase hit with $348m in fines related to its trade surveillance programme
The fines were issued by the the Office of the Comptroller of the Currency and the US Federal Reserve.
OCC
US OCC to establish office of fintech next year
The OCC says it wishes to “bolster its expertise and ability to adapt to a rapidly changing banking landscape”.
FinTech Futures: Top five stories of the week – 22 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US regulators fine Bank of America $225m for “botched disbursement” of unemployment benefits
The CFPB has fined the bank $100 million, while the OCC has separately issued a $125 million fine.
Federal appeal overturns New York block on US Fintech Charter
The three-judge panel said NYDFS failed to show it had suffered “actual or imminent injury”.
Morgan Stanley fined $60m for improper disposal of personal data
The OCC found examples in 2016 and 2019 of failure to oversee third party companies.
OCC issues $85m penalty to USAA Federal Savings Bank
Military-supporting lender found to have failed risk management.
US associations go after OCC’s payments charter in critical letter
The OCC is currently in the swings of introducing another special purpose national bank charter.
OCC issues guidance on US banks’ stablecoin activities
The US regulator issues clarification for FIs dealing with crypto.
Capital One fined $80m for 2019 data breach
US firm pays the price for hack that exposed data of 106m customers.
US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
US digital banking rules could change as OCC calls for input
But the regulator is not considering a national bank charter for fintechs.
Former Wells Fargo CEO barred from banking industry, fined $17.5m
Seven other former Wells Fargo executives were reprimanded by the OCC.
City National Bank of New Jersey shut down by OCC
Three US banks have been closed in two weeks by regulators.
US regulators sign up to Global Financial Innovation Network
The CFTC, FDIC, OCC and SEC are all on board.
OCC updates legacy clearing system with Cinnober
Options Clearing Corporation freshens up.
OCC fights for US fintech charter in court
Office of the Comptroller of the Currency seeks to dismiss CSBS litigation.
New York sues US to halt fintech charters
Another regulator kicks up a fuss over national bank charters.
State supervisor keeps on fighting against US fintech charter
Conference of State Bank Supervisors will renew its litigation against OCC.
New York state stands against fintech sandboxes
“Toddlers play in sandboxes. Adults play by the rules.”
US regulator opens up national bank charters to fintech
Office of the Comptroller of the Currency now welcomes applications.
US regulator creeps towards position on fintech charter
Some details should be published within the next three months.
Top fintech stories this week – 22 December 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
New York dismisses lawsuit against OCC fintech charter
Lawsuit dismissed against the US Comptroller of the Currency (OCC) over charter plans.
Varo Money applies for US banking charter
Varo Money is looking to become a true challenger bank, complete with a national bank charter.
Fintech in the US: the state of the union is questionable
An overview of the current fintech regulation in the US by the prudential regulators: the OCC, the FDIC, and the Federal Reserve.
OCC flags risks facing US banks and financial institutions
Strategic, credit, operational and compliance risks remain “top concerns” for the financial services industry in the US, according to the latest report by the Office of the Comptroller of the Currency (OCC).
Fintechs to get bank charters in the US, but there are caveats
The Office of the Comptroller of the Currency (OCC) in the US intends to grant federal bank charters to fintechs.
