fintech regulation


Regulation and Prepaid Dominate the Conversation in 2017

A look at the most popular Viewpoints in Pay Op-Ed so far in 2017 shows two clear trends of thought: What will happen to the CFPB and payments under the Trump administration, and how can prepaid providers reach more consumers and increase profitability?

CFPB Stares down another D.C. Challenge

House bill 1009 would require the CFPB and other independent federal agencies to submit regulations annually to a White House office for review, in the latest push to reform the CFPB and otherwise reduce regulatory burdens for the financial and payments industry under the Trump administration.

Under Renewed Fire, the OCC Moves Forward with its Fintech Charter Plan

The Office of the Comptroller of the Currency is moving forward with its plan to enable fintech companies to become special purpose national banks (SPNBs), releasing a licensing manual draft supplement which provides guidance on how the OCC “will apply the licensing standards and requirements in its existing regulations and policies to fintech companies applying for [SPNB] charters“ and another document that summarizes public comments about the plan to allow SPNBs for fintech companies. The special purpose charter has no shortage of critics, but perhaps the most vocal—New York State—has turned up the dial on its opposition.

What Will Happen to the CFPB?

Republicans have never liked the agency, but so far, their efforts to reform it and reduce its power—or eliminate it altogether—have appeared scattershot. Echoing what a former Secretary of Defense once said: Here’s what we know and what we know we don’t know about the bureau’s future.