State Regulators Sue OCC Over Fintech Charter


The Conference of State Bank Supervisors yesterday sued the Office of the Comptroller of the Currency over the agency’s plan to issue special-purpose national bank charters to fintech firms, American Banker reported. “Citing the National Bank Act, the bank supervisor group argued that the OCC has the authority to charter only those firms engaged in…

OCC to Focus on Ongoing Monitoring of Third-Parties; Contract Fulfillment Important


“Regulatory staff from the Federal Reserve, the FDIC and the Office of the Comptroller of the Currency shared their observations and previewed forthcoming regulatory updates on third-party risk management during a meeting with American Bankers Association member bankers in Washington, D.C., this week,” according to the ABA Banking Journal. “The OCC said that its examiners…

ICO Outlines How it will Support Innovation


The ICO has released a document titled “ICO: Innovation and regulation” which outlines how their role as a regulator will work to promote innovation and not place undue burdens on businesses. This has been designed to complement government’s approach to develop a modern industrial strategy for Britain. The document makes reference to the “industry-led event,…

ICO to Update Consent Guidance


A blog post clarifies that the ICO is working on analyzing the feedback on their draft consent guidance. They aim to publish a final version in June but add a caveat saying this timeline may be affected by European level developments. The ICO will also produce a summary of the responses they received to the…

WP29 Releases Statement on Data Subject Rights


WP29 has released a statement underlining the importance of protecting the rights afforded to data subjects. They strive for consistency with the GDPR in light of a purposed review of the processing of personal data by Community institutions, new competencies of the DPAs and restriction of data subject rights by member state laws. They envision…