By Steve Miller on Posted in Banking,Banking TechnologyLast week, the Office of the Comptroller of the Currency (OCC) officially opened its doors to financial technology companies and encouraged them to apply to become “special purpose” national banks. The premise is simple—become a national bank, abide by the OCC’s rules and regulations, and so-called “fintech” companies can avoid much of the thicket of… Continue Reading
By David Rice and Brian Sniffen on Posted in Banking Technology,CybersecurityData security and data breach notifications are—or should be—on everyone’s mind these days. Banks are certainly no exception. And banks, in general, are setting good examples for other businesses because banks’ data security systems and incident-response plans are usually up to date, tested for effectiveness, and the subject of board-level discussions. But how many banks… Continue Reading
By Faye Ricci on Posted in Banking Technology,Regulatory Developments,Trending News,Virtual CurrencyOn February 25, 2015, the New York Department of Financial Services (NYDFS) published its proposal to regulate virtual currencies in the New York Federal Register. Since the issuance of its initial proposal in July, 2014, the NYDFS received over 3000 public comments on its proposed regulation. Superintendent Benjamin Lawsky claims that the reproposed legislation incorporates many of… Continue Reading
By Steve Klein on Posted in Banking Technology,Graham & DunnThe Changing Face of America While attending a recent presentation at the California Bank Presidents’ Seminar by Brett King, CEO and founder of Movenbank, the world’s first direct mobile-only bank, I was inspired to write another Cyber-Graham. The crossover between baby boomers, Gen Xers, and millennials is fast approaching with economic power shifting to the… Continue Reading
