OCC Initiates Push To Reassess Banking Innovation Rules

By Philip Rosenstein (June 4, 2020, 11:00 PM EDT) -- The Office of the Comptroller of the Currency is moving full steam ahead with plans to get up to speed with digital transformation in banking, asking for input on an expansive set of issues ranging from cryptocurrency and blockchain to artificial intelligence and machine learning.

Newly appointed acting Comptroller of the Currency Brian Brooks issued an advance notice of proposed rulemaking on Thursday, confirming that the federal banking regulator is actively reviewing regulations on digital activities in banking. The notice asks stakeholders to submit comments on how existing regulations on the use of digital technology in banking may be out of...

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