House Financial Services Committee Chair Patrick McHenry asked the FDIC to explain its financial innovation strategy as well as the agency's examination and supervisory actions toward financial institutions and fintechs.
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The Congressional Research Service compiled and organized a list of its prior published reports on legal issues related to regulating major technology companies.
The OCC Acting Deputy for the Office of Financial Technology Donna Murphy testified on the agency's "analysis and evaluation of financial technology innovations, trends, emerging risks, and implications for OCC’s supervised banks."
In its Semiannual Risk Perspective, the OCC reported increased credit, market, operational and compliance risks during the first half of 2023.
The FDIC proposed amendments to the Federal Deposit Insurance Act to allow certain individuals who have prior convictions to work for FDIC-insured financial institutions.