Fintech Innovation Sharpens Need for Regulatory Clarity
By Caitlin Mullen, Banking Dive
At an “unparalleled moment” for financial services regulation, Morrison Foerster partner Avy Mallik is closely tracking regulatory developments related to digital assets.
Mallik, who joined the law firm last month, was previously general counsel of the California Department of Financial Protection and Innovation, and director of fintech policy and senior counsel for the House Financial Services Committee…
Read MoreHere are the Questions Trade Groups Asked of NCUA Staff About Budget
By Frank Diekmann, CU Daily
NCUA’s public hearing on its 2026-27 draft budget included the opportunity for representatives of four credit union trade groups—after they had made their statements—to ask questions of the agency’s staff on everything from issues related to the biggest and smallest CUs, to extended exams, and more.
As the agency is evaluating its ONES division, how are you thinking through its right size and how that relates to how you see systemic risks for the industry…
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Gould Backs Charters to Bring Nonbanks into Regulatory Fold
By Ebrima Santos Sanneh, American Banker
Comptroller of the Currency Jonathan Gould Tuesday defended bringing compliant fintechs into the regulated system, calling it “the only way” to begin to level the playing field between banks and challenger fintech firms.
In a fireside chat at The Clearing House’s annual conference moderated by Sullivan & Cromwell partner Rodge Cohen, Gould acknowledged that concerns about more lightly regulated nonbanks competing with banks…
Read MoreWhat May Be Ahead in Debanking Enforcement
By Jonathan Kolodziej and Robert Maddox; Bradley Arant Boult Cummings LLP; Published in JD Supra
Executive Order No. 14331 on politicized or unlawful debanking, issued on Aug. 7, has spurred a flurry of activity by the federal banking regulators over the past few months.
For example, the OCC and the Small Business Administration have both publicly taken steps to effectuate Trump’s order. Other federal financial regulators, like the CFPB, have also begun efforts to identify potential current and historical politicized or unlawful debanking practices in less public ways…
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