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Acting Comptroller Outlines OCC Priorities, Includes Fintech, Crypto in Statement to Senate Banking Committee

The Acting Comptroller of the Currency, Michael J. Hsu, testified in front of the Senate Committee on Banking today. In prepared testimony, the Acting Comptroller outlined his priorities for the bank regulator. In opening statements, the Chair of the Committee, Senator Sherrod Brown, took a… Read More

OCC Announces Office of Financial Technology

The Office of the Comptroller of the Currency recently announced it will “establish an Office of Financial Technology early next year to bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape.” The Office of Financial Technology will “build on and… Read More

Neobanking Fintech Avant Teams Up with Major League Soccer (MLS)

As Major League Soccer (MLS) nears the mid-way mark of its exciting 27th season, MLS and Avant, a credit-first neobank that gives consumers access to the financial solutions they “deserve,” announced “a multi-year partnership.” Kevin Chin, Head of Business Development & Partnerships at Avant, said:… Read More

Fintech Paysend Teams Up with Damane Cash to Support Transfers to Morocco

Paysend, the UK-headquartered Fintech with more than 7 million customers, announced a partnership with Damane Cash, a payments institution and subsidiary of Bank of Africa, to “enable money transfers to Morocco.” With features like low fixed fees, upfront exchange rates, faster transfer speeds and the… Read More

CaixaBank Introduces Online Real-Time Currency Trading Platform, FXNow in Morocco

CaixaBank, which claims to be Spain’s “leading” financial institution, has launched FXNow, its online platform that enables customers to trade currencies “in real time, quickly, securely and without intermediaries, in Morocco.” With the launch, CaixaBank claims it has become “the only Spanish bank in Morocco… Read More

First Digital Asset Bank: OCC Gets Consent Order Against Anchorage Digital Bank for AML Shortcomings

  Anchorage Digital Bank, the first-ever charted digital asset bank, has been hit with a consent order from the Office of the Currency of the Comptroller (OCC), the lead federal bank regulator. According to a statement by the OCC, that action was taken due to… Read More

President Biden Pulls Nomination of Saule Omarova to be Head of OCC

President Joe Biden has withdrawn the nomination of Saule Omarova to become the Comptroller of the Currency, according to a statement by the Whitehouse. The Office of the Comptroller of the Currency is an independent bureau under the US Department of Treasury and the lead… Read More

Joe Biden’s Radical Selection to Head the OCC Appears to be Doomed as Multiple Democrats Will Not Support Nominee

The confirmation of Saule Omarova, President Joe Biden’s selection to head the Office of the Comptroller of the Currency (OCC) – the top bank regulator, appears to be doomed as multiple Democrat Senators have expressed to the Whitehouse they will not support the nominee. Omarova,… Read More

Office of the Comptroller of the Currency Issues Interpretive Letter on Cryptocurrency and Banks, Joint Statement on Crypto Issued by Fed, OCC and FDIC

The Office of the Comptroller of the Currency (OCC), the leading regulatory overseeing national banks, has issued a letter confirming that national banks and federal savings associations can engage in crypto but must demonstrate adequate controls in place before they can engage in certain cryptocurrency,… Read More

First Metaverse “Earn to Play” Football Game MetaSoccer Raises €2 Million

MetaSoccer, an earn-to-play football metaverse developed primarily on the blockchain, says it has raised  €2 million to launch the first football game in the metaverse. In a release, Barcelona-based MetaSoccer said that investors include Play Ventures, Defiance Capital, Parafi Capital, DAO Maker, Kyros Ventures, Metrix… Read More

Figure Completes Digital Securities Transaction, Secondary Trading of Private Company Occurs on Blockchain

Blockchain-based fintech Figure today announced the completion of a digital securities transaction using Figure ATS, an alternative trading system that is registered with the U.S. Securities and Exchange Commission and that is part of Figure’s Marketplace trading platform. The trade included the minting of a… Read More

Former OCC Comptroller Brian Brooks Departs Binance.US CEO Position

Former acting Comptroller of the Currency Brian Brooks has announced his exit as CEO of Binance.US. Brooks has only been the Chief Executive of Binance.US since April 2021. Binance.us is a subsidiary of Binance – the largest cryptocurrency exchange in the world. At the time… Read More

European Fintech Adyen Expands Operations in the US, Gains Bank Charter from OCC

Amsterdam-headquartered Adyen (AMS: ADYEN) is on an expansion spree. After entering the Middle East market, the company has now received a banking branch charter in the United States to establish a Federal Foreign Branch, the company said. Banking licensing overseer, the Office of the Comptroller of… Read More

Senator Sherrod Brown, Chair of Senate Banking Committee, Presses OCC on Crypto Bank Charters Putting Fintech Innovation at Risk

Earlier today, US Senator Sherrod Brown, Chairman of the Senate Banking Committee,  issued a statement challenging the Office of the Comptroller of the Currency (OCC) to review federal bank charters approved for digital asset firms. In the last year of the Trump Administration, the OCC… Read More

Here is the Letter from the OCC Granting the Preliminary Bank Charter to Paxos

Last week, it was reported that Paxos had received preliminary approval for a national bank charter for Paxos National Trust. The Office of the Comptroller of the Currency (OCC) stated: “the preliminary conditional approval is granted after a thorough review of the application, other materials… Read More

OCC Announces Prelimimary Conditional Approval of the Application to Charter Paxos National Trust, New York

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Department of the Treasury that serves to charter, regulate, and supervise all national banks and thrift institutions and the federally licensed branches and agencies of foreign banks in the United… Read More

Binance.US Hires Former OCC Chief Brian Brooks as New CEO

Binance.US, an offshoot of Binance – the largest crypto exchange in the world, has hired the former Comptroller of the Currency, Brian Brooks, as its new Chief Executive Officer. In a strategic coup, Brooks will now be leading Binance.US, a top ten crypto exchange, in… Read More

Morocco Is Now Home to Many Fintech Services, Crowdfunding, Lending, Advanced Data Analytics Platforms: Report

Morocco is reportedly one of the most prominent Fintech hubs in the MENA region, as it’s currently home to approximately 13% of around 400 regional Fintech businesses, according to research carried out by financial inclusion supporter Consultative Group to Assist the Poor (CGAP). The report,… Read More

OCC, CFPB, FDIC, NCUA and Federal Reserve Join in Request for Information on Artificial Intelligence and Usage in Financial Services

In a joint statement today, five federal financial regulatory agencies announced a consultation pertaining to the usage of artificial intelligence (AI) as well as machine learning (ML) within financial institutions. The agencies seek information from the public on how financial institutions use AI in their… Read More

Former OCC Acting Head Brian Brooks Joins Board of Directors at Spring Labs, which Facilitates Secure Data Exchange via DLT

Brian Brooks, Former Acting Head of the Office of the Comptroller of the Currency (OCC), has now joined the board of Spring Labs, a firm that develops innovative tech for exchanging data securely and in an anonymous manner via a shared blockchain or distributed ledger… Read More

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