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Commentary by Steven Lofchie

The Government Accountability Office issued a report on four types of financial technology: marketplace lending, mobile payments, digital wealth management, and distributed ledger technologies.

The Office of the Comptroller of the Currency (OCC) published a final rule in the Federal Register on October 9 that revises the requirements imposed on U.S. banks and federal branches of foreign banks pursuant to the short-term investment fund (STIF) rule. A STIF is a form of collective investment fund (CIF) that may be established and managed by a national bank (or a federal branch) under its fiduciary authority. Unlike other forms of CIFs, a STIF is valued based on the amortized cost of its assets rather than based on mark-to-market basis.The final rule adds safeguards designed to address