Article: OCC chief sparks concern by signaling openness to redefining what a bank is

From Politico Pro [Subscription Required]: Acting Comptroller of the Currency Keith Noreika suggested that he would be open to re-examining the division between commercial and banking activities, sparking concern among regulators and smaller lenders. Though Noreika indicated he would move ahead with the limited charter designed for fintech firms to compete nationally with banks, it’sContinue reading Article: OCC chief sparks concern by signaling openness to redefining what a bank is

NYDFS: STATEMENT BY FINANCIAL SERVICES SUPERINTENDENT MARIA T. VULLO IN RESPONSE TO COMMENTS MADE TODAY BY ACTING OCC COMPTROLLER KEITH NOREIKA REGARDING A NATIONAL BANK CHARTERS FOR NON-BANK FINANCIAL SERVICES COMPANIES

“New York continues to stand by its position that the OCC lacks the authority to charter nonbank financial services firms and only state regulators like DFS have the extensive experience, knowledge, and skills to supervise these cash-intensive companies.  As we clearly assert in our lawsuit, the OCC is simply not equipped nor legally authorized toContinue reading NYDFS: STATEMENT BY FINANCIAL SERVICES SUPERINTENDENT MARIA T. VULLO IN RESPONSE TO COMMENTS MADE TODAY BY ACTING OCC COMPTROLLER KEITH NOREIKA REGARDING A NATIONAL BANK CHARTERS FOR NON-BANK FINANCIAL SERVICES COMPANIES

Louisiana Regulator to Guide Nationwide Licensing and Supervision System for Fintechs and Other Non-Banks

Washington, D.C. – John Ducrest, commissioner of the Louisiana Office of Financial Institutions, has been named the new chairman of the Board of Managers of the State Regulatory Registry. The Registry, a subsidiary of the Conference of State Bank Supervisors (CSBS), manages the business operations of the Nationwide Multistate Licensing System (NMLS). NMLS is theContinue reading Louisiana Regulator to Guide Nationwide Licensing and Supervision System for Fintechs and Other Non-Banks

New York Department of Financial Services Enhances Participation in NMLS

From the New York State Department of Financial Services: DFS SUPERINTENDENT VULLO ANNOUNCES ENHANCED PARTICIPATION IN STATE-BASED NMLS PLATFORM TO FURTHER DEVELOP REGULATION OF THE FINANCIAL SERVICES INDUSTRY Financial Services Superintendent Maria T. Vullo today announced that, starting July 1, 2017, the Department of Financial Services (DFS) will be transitioning to the Nationwide Multistate LicensingContinue reading New York Department of Financial Services Enhances Participation in NMLS