Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Government clears way for FinTech firms to compete with banks

Jaclyn Jaeger | August 1, 2018

The U.S. Department of Treasury and the Office of the Comptroller of the Currency each announced developments that pave the way for FinTech firms and other non-banks to more easily compete with traditional banks.

The first development came on July 31 from the U.S. Department of Treasury in the form of a 222-page report, “identifying improvements to the regulatory landscape that will better support nonbank financial institutions, embrace financial technology, and foster innovation,” the Treasury stated. It is the fourth report issued by Treasury, under the direction of Secretary Steven Mnuchin, in response to...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.