U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was the second time during the current congressional session that proposed stablecoin legislation has come to the floor, with the first hearing on...
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration, and the Office of the Comptroller of the Currency (the agencies), on Wednesday, July 6, issued a joint statement urging...
There are a number of ways to read between the lines of the speech about stablecoins Acting Comptroller of the Currency Michael Hsu made at a financial conference today (Jan. 13). One is, of course, he’s genuinely concerned about their potential to damage the economy....
President Joe Biden has announced that he plans to nominate Saule Omarova for Comptroller of the Currency and Claudia Slacik as Member of the Securities Investor Protection Corporation, according to a White House press release. Omarova, if confirmed, will be the first woman and person...
June 16, 2023
For Michael J. Hsu, the acting U.S. Comptroller of the Currency, the potential benefits of using widespread artificial intelligence (AI) in banking “are significant.” But so too are the risks, he said Friday (June 16) in a speech at the American Bankers Association’s Risk and Compliance Conference. “The use of AI has the potential to […]
September 23, 2021
President Joe Biden has announced that he plans to nominate Saule Omarova for Comptroller of the Currency and Claudia Slacik as Member of the Securities Investor Protection Corporation, according to...
July 13, 2020
The nation’s banks hoping to use COVID-19 as an excuse to shutter branches or get permanent concessions from regulators better think again, the Financial Times reported. Brian Brooks, Acting Comptroller...
June 02, 2020
Brian P. Brooks, Acting Comptroller of the Currency, said in a series of letters that some states’ long-term efforts to curb the coronavirus could lead to reduced real estate values...
