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Digital Bank Fails to Meet OCC Expectations

by firoz_rambee
April 21, 2022July 14, 2022

The regulatory focus on cryptocurrency firms continued on April 21, when the Office of the Comptroller of the Currency (OCC) issued a Consent Order against Anchorage Digital Bank regarding the bank’s failure to adopt and implement a compliance program that adequately covers the required Bank Secrecy Act/anti-money… Read More »Digital Bank Fails to Meet OCC Expectations

CFPB Plans To Target FinTechs

by firoz_rambee
April 3, 2022July 14, 2022

The Consumer Financial Protection Bureau (CFPB) announced earlier this week that it intends to leverage a largely unused legal provision to examine nonbank financial companies and seeks comments on updated procedures. The CFPB believes using this inactive authority will enable them to hold nonbanks to the same… Read More »CFPB Plans To Target FinTechs

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