Weekly Regulatory Deadlines | July 29 to Aug 04
State regulator group, others back lawsuit against OCC fintech charter
American Banker 07/31/2020
State regulators, academics, and consumer advocates filed separate amicus briefs in a lawsuit against the Office of the Comptroller of the Currency this week, arguing the national bank regulator lacks the authority to grant a special-purpose fintech charter...
Federal and State Banking Regulators Issue New Examination Procedures on Sampling Methodologies, UDAP/UDAAP, and CARES Act
Consumer Finance Monitor 08/04/2020
Recently, the federal banking regulators issued four new sets of examination procedures. The OCC issued two significant examination booklets on sampling methodologies and UDAP/UDAAP, and the federal banking regulators, together with state financial regulators, issued interagency exam guidance for assessing safety and soundness of financial institutions in light of the ongoing impact of the COVID-19 pandemic...
BankThink Banks, fintechs must reframe data privacy debate
American Banker 08/04/2020
Financial services innovators are at risk of losing access to data that’s critical to their businesses if Congress passes a proposed data privacy bill or one of several like it...