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Digital Innovation & Mobile Banking
- August 31, 2018D.C. DOWNLOAD OCC’s CRA ANPR Proposal : Comptroller of the Currency Joseph Otting is a CEO at heart and he showed it this week when the OCC issued its ANPR on the Community Reinvestment Act. The OCC issued the ANPR unilaterally, but we expect the FDIC and possibly the Fed to join in on the reform efforts before all is said and done. CBA’s Community Reinvestment Committee of almost 50 member banks...
- August 24, 2018D.C. DOWNLOAD Kraninger Committee Vote : The Senate Banking Committee yesterday morning advanced Kathleen Kraninger’s nomination to run the Bureau of Consumer Financial Protection by a party line vote. The full Senate consideration of President Trump’s pick is expected sometime this fall, and will also likely break down along party lines. Following the vote, CBA released a statement encouraging “...
- August 16, 2018 - 2:00PMPastAugust 16, 2018Mastercard POV on the “push payments” category, which, includes Fast ACH and peer-to-peer platforms, has created opportunities for push-to-card B2C payment scenarios where companies are able to use real-time payment solutions to send money directly to a debit card.August 14, 2018 - 2:00PMPastAugust 7, 2018On Tuesday, August 7, 2018, the Bureau announced that they will be collaborating with 11 financial regulators and related organizations to create the Global Financial Innovation Network (GFIN). The network will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas. It will also create a new...August 1, 2018 - 1:00PMPastJuly 31, 2018On Tuesday, July 31, 2018, the Treasury Department released a report on Fintech and Innovation, issuing broad and specific recommendations to empower consumers and to facilitate innovation in the U.S. financial system. This is the fourth report from Treasury as part of its effort to implement the President's Executive Order on Core Principles for Regulating the United States Financial System. In...July 13, 2018D.C. DOWNLOAD Commission Bill Adds Two – Breaking News: Bipartisanship in Congress is not dead. This week, Reps. Gregory Meeks (D-N.Y.) and Sean Duffy (R-Wis.) became the eighth and ninth cosponsors of a bipartisan bill in the House of Representatives to create a Senate-confirmed, bipartisan commission at the Bureau of Consumer Financial Protection. The bill was introduced while we were at CBA...July 12, 2018The modern consumer’s appetite for digital services across all platforms has never been greater. Traditionally risk-averse financial institutions are struggling to keep up with this demand. Failure for some is a real possibility, while others are undertaking projects designed to keep them competitive. This report outlines the challenges facing institutions that undertake such projects and...