Navigating the Current Regulatory Environment
Regulatory agencies are constantly at work to create and implement rules and procedures to protect the integrity of the financial services industry. From the OCC and FDIC to the CFPB, CUNA, NAFCU and the FTC, Instructors in this session are comprised of current and previous Regulators as they provide a glimpse into provincial versus functional regulators – including auditors, examiners and supervisory positions and explore their role in the industry. Consumer protection organizations are constantly on the ready to adjust regulations for both financial institutions and new players in the fintech space. It is critical for payments lawyers and compliance professionals to understand differing points of view including those of fintechs, third parties, and financial institutions. Instructors in this session explore the “compliance sandbox” to determine where the industry is moving and how the industry can provide guidance via Requests for Comment and interacting with regulators to evaluate new types of banking entities and whether they will be allowed access to Fed accounts and Fed services.