Government Relations Policy Updates

State Regulators Reaffirm Legal Challenge to the OCC’s Fintech Charter

Posted September 13, 2018

On Sept. 12, 2018, State bank regulators announced their intent to refile a lawsuit against the Office of the Comptroller of the Currency (OCC) to try to block the federal bank regulator from offering a new special-purpose national bank charter to fintech companies.

Larimer and Sullivan Meet with BCFP Leadership

Posted September 13, 2018

NACHA’s Chief Operating Officer, Jane Larimer and Head of Government & Industry Relations, Bill Sullivan met with several senior-level staff at the Bureau of Consumer Financial Protection (CFPB).

Sullivan and Throckmorton Meet with AFP TAG

Posted September 13, 2018

NACHA's George Throckmorton and Bill Sullivan met with The Association of Finance Professional’s Treasury Advisory Group to discuss ISO 20022, Afinis, business payments directories and the work of the faster payments working group at the Payments Innovation Alliance.

Financial Agencies Issue Statement to Clarify Role of Guidance

Posted September 12, 2018

On Sept. 11, 2018, in response to lawmaker’s requests, five financial regulators (The Federal Reserve System, CFPB, FDIC, National Credit Union Administration and the OCC) issued a written statement clarifying that supervisory guidance does not carry the force of law, is not binding and does not direct enforcement actions.

Luetkemeyer Introduces a Data Security Bill

Posted September 7, 2018

Rep. Luetkemeyer has introduced a bill intended to codify federal regulators' data breach notification standards for the financial services industry.

Clarida Confirmed as Fed Vice Chair

Posted August 29, 2018

The Senate confirmed Richard Clarida as Vice Chairman of the Federal Reserve Board, filling out Chairman Jerome Powell's leadership team.