Today in TechREG, the Consumer Financial Protection Bureau (CFPB) removed Upstart from its list of approved “no-action letters” (NALs). The NALs provided regulatory immunity, but it was the company, not the agency, that requested the removal. Get the Full Story Complete the form to unlock...
The Consumer Financial Protection Bureau (CFPB) on Wednesday (June 8) issued an order to terminate Upstart Network from its list of approved “no action letters” (NALs). Surprisingly, the request to terminate the NAL didn’t come from the regulator but from the company, and it may...
President Joe Biden’s nominee for Federal Reserve vice chair of banking supervision, Michael Barr, has moved closer to winning the nomination after a lengthy process, The Wall Street Journal (WSJ) wrote Wednesday (June 8). Get the Full Story Complete the form to unlock this article...
The U.K. Treasury released a policy paper on Wednesday (June 8) proposing a new regulatory framework that would provide the Bank of England (BoE) and the Financial Conduct Authority (FCA) with new powers to oversee tech firms that provide critical services to the financial industry....
Today in TechREG, the United Kingdom has announced that it is planning to introduce legislation to give more powers to financial regulators to oversee nonfinancial firms that provide critical services to the industry. While the government didn’t mention any particular company, cloud providers like Amazon...
Custodia Bank, a Wyoming-based digital asset bank, has taken legal action against the Federal Reserve Bank of Kansas City and the Board of the Federal Reserve to force the institutions to issue a decision on the bank’s application to access the Fed’s Master Accounts. Get...
Today in TechREG, U.S. Senators Cynthia Lummis and Kirsten Gillbrand have introduced their long-awaited crypto bill that outlines the legal framework for crypto assets and establishes new powers to regulators. Bitcoin and other cryptocurrencies are at the center of the debate in a hearing held...
The Federal Trade Commission (FTC) on Friday (June 3) released on its annual report to the Consumer Financial Protection Bureau (CFPB) on its enforcement and rulemaking activities in 2021 regarding financial acts. The CFPB will use this report to prepare its own annual report for...
Today, a court in Australia found Google liable for defamatory videos posted on its YouTube platforms targeting a senior politician. The court ordered Google to pay around $500,000, but the ruling adds pressure on Big Tech to apply content moderation rules to their platforms. FinCEN...
