Regulatory

Fed Backs Community Bank Regulatory Overhauls

The U.S. Federal Reserve caught the attention of the financial services market this week with Fed Governor Lael Brainard’s speech Wednesday (Oct. 3) on the rising demand for faster and real-time payments. But, the Fed also touched on another aspect of the finserv market: small business banking and lending.

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Bureaucratic Fuel Is Pushing B2B Payments Toward Digital

Unless you are a fan of paper cuts and ink smudges, take a moment to give it up for Spain. The country is the latest nation to help push B2B payments into the digital age. The developments come amid increasing regulatory focus around the globe on moving those transactions away from mistake- and fraud-prone analog […]

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Federal Reserve Board Seeks Public Comment on Potential Actions to Facilitate Real-time Interbank Settlement of Faster Payments

The Federal Reserve Board on Wednesday invited public comment on actions the Federal Reserve could take to support faster payments in the United States.

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Cryptocurrency Is ‘Here to Stay’: CFTC Chairman Giancarlo

Bitcoin may never replace the greenback, but the flagship cryptocurrency could achieve significant adoption in the two-thirds of countries without stable currencies. That statement might sound like a thesis put forward by an early bitcoin adopter, or perhaps a forward-thinking hedge fund manager.

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Bill Clinton: Over-Regulation Could Kill Blockchain’s ‘Golden Goose’

Former U.S. President Bill Clinton highlighted the need to avoid too much regulation of new technologies like blockchain as he took the stage at Ripple’s Swell conference in San Francisco. Clinton was joined on-stage by Gene Sperling, one of Clinton’s advisors in the White House who also sits on Ripple’s board of directors.Clinton who served […]

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Tens of Cryptocurrency Representatives Beg Congress for Regulation

A Congressional hearing on the subject of cryptocurrency regulation attracted tens of industry representatives, who all expressed a strong desire for regulation.

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Congress Members Ask SEC Chairman for Clarity on Cryptocurrency Regulation

Calls for more clarity on cryptocurrency regulation are now coming from Congress, not just bitcoin fanatics. More than a dozen members of the House of Representatives sent a letter to Securities and Exchange Chairman Jay Clayton Friday urging his agency to tell investors, in plain English, how it plans to regulate cryptocurrency.

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Why There’s No Need for the OCC’s Fintech Charter

The dictionary defines a MacGuffin as an object, event or character in a movie that serves to set and keep the plot in motion despite lacking intrinsic importance. The Maltese Falcon is the best example: a priceless statue coveted by the characters in the film, which drives the plot until it turns out to be […]

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Cryptocurrency Coalition to Pay D.C. Lobbyists in Digital Coins

A group of financial technology companies is banding together to lobby lawmakers and regulators on cryptocurrencies — and they plan to pay their Washington advocates partly in digital coins.The firms, all based in the San Francisco area, include digital money transfer company Ripple and several startups.

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Podcast: Inside Warren’s Latest Criticism of CFPB’s Mulvaney

American Banker’s Kate Berry discusses recent events at the Consumer Financial Protection Bureau, including acting Director Mick Mulvaney’s efforts to strip the bureau of its ability to enforce fair-lending rules and his replacement of its consumer advisory board.

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Crypto Industry Leaders Warn Congress: Figure Out Regulation, or Watch Innovation Leave the US

The cryptocurrency industry has a plea for Congress: Hurry up and regulate, please. More than 50 industry participants gathered on Capitol Hill for a roundtable discussion hosted by Rep. Warren Davidson, R-Ohio, Tuesday.

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The Trouble With Cryptocurrency’s Viral Growth

In the world of cryptocurrency, there are two categories of intermediary institutions. The first category contains the exchanges where users buy, sell and store their virtual currency. These exchanges include Coinbase, which the New York attorney general’s report claimed traded on its own platform, and the now-bankrupt Mt.

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