Partisan Divide Deepens Over Regulating Crypto
Senate Banking’s cryptocurrency hearing today unsurprisingly showed that partisan divisions continue, with Democrats urging quick action on a regulatory framework while Republicans argued that innovation should continue unfettered.
OCC Goes Green
Following the FRB’s lead, the OCC today announced it has joined the Network for Greening the Financial System (NGFS) and appointed former Deputy Comptroller Darrin Benhart as its Climate Change Risk Officer.
Brown: CFPB Must Address Fintech Risk
Chairman Brown (D-OH) today asked the CFPB to detail its plans for addressing risks from fintechs and other nonbanks, citing recent reports that one fintech, Chime, closed customers’ accounts without their permission.