Estimated reading time: 0 minutes, 26 seconds

Acting Comptroller of the Currency Making Waves with Fintech, Banking Policy

Newly minted Acting Comptroller of the Currency Brian Brooks is pushing for new charters specifically catering to payment companies and other fintechs as well as new rules governing fintech-bank relationships. So reports Bloomberg Law.

blockchain 3019120 640smallDuring a recent webinar, Brooks said the new charters are not meant to give nonbanks “access to some preemptive power,” but rather to reflect changes in how Americans now use financial services. Consumer advocate groups have expressed a spectrum of thoughts and concerns regarding Brooks’ plans.

Read the full article at Bloomberg Law.

Read 3149 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.