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Financial Services: Regulation & Risk Blog

Articles: 1-10 of 286

GAO releases fintech report

USA - May 11 2017 In April, the Government Accountability Office (GAO), an independent agency that oversees government spending, released a report on fintech to help…

Vermont changes money transmitter law to formally include virtual currency

USA - May 8 2017 On May 1, Vermont changed its money transmitter law to allow companies to hold virtual currency as a permissible investment. Vermont has long held the…

West Virginia defines cryptocurrency in anti-money laundering bill

USA - May 3 2017 On April 8, West Virginia passed a new bill (pending the Governor’s signature) that defines cryptocurrency in the context of money laundering. In the…

CFPB seeks comment on remittance rule assessment

USA - May 1 2017 The Consumer Financial Protection Bureau (CFPB) will publish in 2018 its five-year assessment of its remittance rule, part of Regulation E and the…

Washington updates money transmitter law to include virtual currency

USA - April 27 2017 On April 17, the state of Washington enacted a new law that, among other things, formally adds virtual currency to its money transmitter law. [Edit:…

CFPB proposes changes to its fair lending rule

USA - April 25 2017 Mortgage lenders should be aware of upcoming changes to the Consumer Financial Protection Bureau’s (CFPB) Regulation B. The CFPB has been in the…

Utah to treat certain virtual currency as abandoned property

USA - April 7 2017 On March 24, Utah modified its Unclaimed Property Act to include virtual currency in its definitions. The law includes virtual currency in the…

Arizona ensures legal validity of blockchain signatures

USA - April 6 2017 In order for commerce to be effective, parties to a transaction have to trust that their signatures carry legal validity. When transactions…

Arkansas to passport money transmitter licenses?

USA - April 5 2017 Any company running a payments business has come across one major hurdle in the US: state money transmitter law. Over 45 jurisdictions within the US…

#Brexit: Supreme Court decision

European Union, United Kingdom - January 24 2017 As anticipated, the Supreme Court has upheld the High Court’s judgment by ruling (albeit on an 8 to 3 majority) that an Act of Parliament before UK…