Brooks Blasts Through Another Crypto Barrier
Moving forward with a sharp rebuttal to the President’s Working Group on Financial Markets, the OCC late yesterday issued an interpretive letter (IL) establishing a new framework allowing national banks and FSAs to provide banking and payment services via Independent Node Verification Networks (INVNs) and stablecoins, thus setting the standards for banks but not the cryptocurrency they use or facilitate.

CFPB Taskforce: New Fintech Charters, An Open Payment System, New Data Use and Reporting Standards Just a Few Ideas
The CFPB’s Taskforce on Federal Consumer Financial Law today recommended consumer-protection changes not only within the Bureau’s ambit, but also for Congress and other regulators. The report lays out an agenda proposed by industry and advocacy groups sure to dominate debate in 2021.