OCC and FDIC Issue Proposed Rules to Undo Madden v. Midland Decision
In recent days, both the Office of the Comptroller of the Currency (OCC) and the FDIC announced that they were proposing rules to clarify the “Valid When Made” doctrine. According to an OCC Press Release, the rule would “clarify that when a national bank or savings...
Google May Be Next Big Tech Company to Offer Expanded Financial Products
A few months ago, Apple made big waves in the financial services sector when it launched Apple Card, a product it bills as “A new kind of credit card. Created by Apple, not a bank.” Facebook, too, has looked to get into finance with the launch of Libra, a digital...
House Financial Services Task Force Holds Hearing on Role of Big Data in Financial Services
Last week, in a hearing convened by the House Financial Services Committee’s Task Force on Financial Technology, members of the committee discussed the increased use of big data—the immense amount of consumer information collected by institutions and businesses—in the...
