The staff of the SEC issued a no-action letter Wednesday, April 3, 2019, to TurnKey Jet, Inc., agreeing that digital tokens used by the business-travel startup did not meet the definition of a security.
After eight years of litigation—and a major ruling from the U.S. Court of Appeals for the Second Circuit that has spawned uncertainty and a chilling effect for lenders—the parties in Madden v. Midland Funding have reached a deal that would bring the case to a close.
Financial technology news includes the continuing battle over the Office of the Comptroller of the Currency’s (OCC) plan to issue special-purpose national bank (“fintech”) charters, with the agency seeking to dismiss lawsuits by the Conference of State Bank Supervisors (CSBS) and ...
State regulators have reached an agreement on multistate licensing and supervision standards for the financial technology industry, drawing from recommendations made by a group of several dozen fintech companies.
Small-dollar lending made headlines recently, with a group of 14 attorneys general responding to the Federal Deposit Insurance Corporation’s (FDIC) request for information (RFI) on the subject and a new California Department of Business Oversight (DBO) enforcement action.
Undertaking a serious push to encourage de novo banks, the Federal Deposit Insurance Corporation (FDIC) announced multiple initiatives and released new resources in the hopes of attracting new banks.
Federal Deposit Insurance Corporation (FDIC) Chair Jelena McWilliams emphasized the need for partnership and collaboration with the financial services industry, in recent remarks at a fintech conference.
The Federal Deposit Insurance Corporation (FDIC) has signaled renewed interest in small-dollar lending.
“Innovation” is the keyword for regulators across the country, with the Federal Deposit Insurance Corporation (FDIC) announcing the agency will create an office to encourage banks to try out new financial technology and the Securities and Exchange Commission (SEC) launching what it ...
In an effort to facilitate real-time interbank settlement of faster payments, the Federal Reserve Board (FRB) is asking for input from industry stakeholders on the best options.