OCC: Agency to Hold Innovation Office Hours in New York
WASHINGTON — The Office of the Comptroller of the Currency (OCC) announced its Office of Innovation will host Office Hours for national banks, federal savings associations, and financial technology companies (fintech companies), July 24-26, at the OCC’s district office in New York City. Office Hours provide an opportunity for meetings with OCC officials to discuss…
HUD: Rutgers University Wins HUD 2017 Innovation in Affordable Housing Student Design & Planning Competition
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced a graduate student team from Rutgers University as the winners of HUD’s fourth annual Innovation in Affordable Housing Student Design and Planning Competition. The Rutgers team was one of four finalists to introduce a comprehensive plan for redeveloping a property owned by the Cuyahoga…
SBA: Small Business Innovation National Road Tour Announced
WASHINGTON – The U.S. Small Business Administration (SBA) today announced it will launch an 11-state, 15-stop road tour led by the SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, with participation from 11 other federal agencies. This will be the third year of the SBA-led National Innovation Road Tour. “The…
SBA: Administrator McMahon Appoints Joseph Shepard as Head of Investment and Innovation
WASHINGTON – Administrator Linda McMahon of the U.S. Small Business Administration announced today that Joseph Shepard will serve as the Associate Administrator for the Office of Investment and Innovation. “It is my pleasure to welcome Joe to the SBA,” McMahon said. “His previous public sector experience at SBA overseeing the SBIC program, as well as…
OCC: OCC to Consider FinTech Charter Applications, Seek Comment
WASHINGTON — Comptroller of the Currency Thomas J. Curry today announced that the Office of the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose national banks. During remarks at the Georgetown University Law Center, the Comptroller described several reasons for considering special purpose…
ABA: Testifies at CFPB Field Hearing on Data Access
Concerns About Consumer Protection, Consumer Control WASHINGTON — The American Bankers Association expressed concerns about consumer protections at a Consumer Financial Protection Bureau field hearing on third party access to consumer financial data today in Salt Lake City. Robert Morgan, vice president, emerging technologies at ABA testified on behalf of the association. In his testimony, Morgan explained…
CFPB: Inquiry Launched into Challenges Consumer Face in Using and Securing Sharing Access to their Digital Financial Records
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) announced it is launching an inquiry into the challenges consumers face in accessing, using, and securely sharing their financial records. As part of the inquiry, the CFPB is asking the public for information about how much choice consumers are being given about the use of their…
OCC: Responsible Innovation Framework Released
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will establish an office dedicated to responsible innovation and implement a formal framework to improve the agency’s ability to identify, understand, and respond to financial innovation affecting the federal banking system. “The OCC supports responsible innovation that enhances the safety and…
CFPB: First-Ever Project Catalyst Innovation Highlights Report Released
Report Discusses Market Developments with Potential for Consumer-Friendly Innovation Washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released a report highlighting various market developments that have the potential to produce benefits for consumers. These developments are emerging from FinTech startups and traditional financial institutions, and include new products, services, and trends. The report also…
ABA: Survey – 1 in 3 Americans Use Mobile Deposit
62 percent of users do so at least once per month WASHINGTON — One in three Americans have deposited a check using a mobile device within the past year, according to a new survey by the American Bankers Association. Of those who have used mobile deposit, 62 percent report using it at least once per…