In banking news, Keith Noreika, the acting U.S. Comptroller of the Currency, is trying to make it easier for Wells Fargo to pay employees when they leave the embattled financial institution, relaxing a restriction put in place last year when the bank’s fake account scandal...
The Consumer Financial Protection Bureau (CFPB) made big waves, and generated a lot of headlines, with news last week that the final draft of its short-term loan regulations had finally dropped like an anvil onto the heads of the short-term lending industry, particularly on segments dealing with products like...
Varo Money, the digital banking fintech that has investment backing from Warburg Pincus, filed for a national banking charter and deposit insurance, putting the Trump administration’s policy to extend bank charters to fintechs to the test. According to a report in the Wall Street Journal,...
Bitcoin may be volatile, but as India goes cashless, the cryptocurrency might find its way into the arsenal of legal tender not tied to paper and coins. And, in the United States, wrangling over the CFPB’s mandate paving the way for class action suits in...
November 21, 2017
While a top U.S. bank regulator has been working to ensure that examiners go easier on the institutions they inspect, he pointed out that those changes will not happen overnight. According to news from Reuters, bankers at institutions regulated by the Office of the Comptroller of the Currency (OCC) have said they have not experienced much […]
July 25, 2017
Varo Money, the digital banking fintech that has investment backing from Warburg Pincus, filed for a national banking charter and deposit insurance, putting the Trump administration’s policy to extend bank...
May 04, 2017
U.S. Treasury Secretary Steven T. Mnuchin announced Wednesday (May 3) that he is plans to appoint Keith Noreika as a Deputy Comptroller and designate him the First Deputy Comptroller of...
