Tag: OCC

OCC’s Attempts to Create National Regulations for Fintech Meet Continued Opposition

Recent comments from acting Comptroller of the Currency Brian Brooks regarding a “payments charter 1.0” did not go unnoticed by the financial services community.

Pine Labs Announces Strategic Investment; Google Introduces Mobile Shopping Platform: News Roundup

PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

OCC Payments Charter in the Works; Ezetap Introduces App for Fine Collection: News Roundup

PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

State Regulator Wins Latest Round in Battle Over National Fintech Charter

A state regulator won the latest round this week in the battle over U.S. regulation of nonbank financial service providers.

Mastercard Announces $1 Billion Investment; Facebook Versus Paytm: News Roundup

PaymentFacilitator’sNews Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

CSBS and OCC Gear Up for Round 2

The Conference State Bank of Supervisors (CSBS) has filed another complaint in the U.S. District Court for the District of Columbia against the Office of the Comptroller of Currency (OCC) – potentially impacting fintechs significantly.

Merchant Settlement: Pros and Cons of Handling the Funds When You’re a PF

Since its inception, the payment facilitator model has been built on improving the client experience. Reducing and even eliminating onboarding delays to get merchants up and processing payments quickly is a hallmark of the business.

OCC Charter Moves Forward, Questions Remain

Last week, the Office of the Comptroller of the Currency (OCC) announced it would begin accepting applications from fintech companies for a special purpose national bank charter.

NY DFS Fines Western Union $60 Million for Anti-Money Laundering Violations

The New York State Department of Financial Services (DFS) has fined Western Union for failure to implement effective anti-money laundering compliance programs in-house and for failure to report suspicious activity – some of which could have facilitated human trafficking.

New York’s OCC Fintech Charter Lawsuit is Dismissed

As previously reported, last December saw the first public announcement from the Office of the Comptroller of the Currency (OCC) regarding the intent to begin accepting special purpose bank charter applications from fintech organizations. And since then, the response has been a mixed one. Most recently, a New York Department of Financial Services (DFS) lawsuit has been dismissed based largely on a “perceived lack of threat to the DFS’ own regulatory powers.”