Sigue Corp. has stopped its money transmission activities after being ordered to do so by financial regulatory agencies from 39 states, Puerto Rico and the District of Columbia. “We are no longer processing new money transfers, money orders or bill payment transactions through agents, branches or...
A new state banking representative will be serving on the Financial Stability Oversight Council (FSOC). Adrienne A. Harris, superintendent of the New York State Department of Financial Services, will take the role beginning Jan. 1. State supervisors voted in September for Harris to take the...
A group of U.S. banking regulators withdrew their lawsuit that sought to block the federal government from granting bank charters to FinTech companies. The Conference of State Bank Supervisors (CSBS), the national trade group of bank regulators, announced Thursday (Jan. 13) that it has dropped the...
Lights out for the FinTech charter idea? The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have given FinTechs a leg up on competing with traditional financial services companies. Nearly four years on, little progress has...
June 26, 2024
Cryptocurrency firm Abra and its CEO and largest equity owner Bill Barhydt have reached a settlement with 25 state regulators. The settlement follows the states’ finding that Abra and Barhydt operated a mobile app for buying, selling, trading and investing in crypto without receiving the required state licenses, the Conference of State Bank Supervisors (CSBS) […]
March 22, 2024
Sigue Corp. has stopped its money transmission activities after being ordered to do so by financial regulatory agencies from 39 states, Puerto Rico and the District of Columbia. “We are no...
December 13, 2022
A new state banking representative will be serving on the Financial Stability Oversight Council (FSOC). Adrienne A. Harris, superintendent of the New York State Department of Financial Services, will take...
January 14, 2022
A group of U.S. banking regulators withdrew their lawsuit that sought to block the federal government from granting bank charters to FinTech companies. The Conference of State Bank Supervisors (CSBS), the...
