Novel Activities Supervision Program News Today

In testimony before the Subcommittee on Digital Assets, Financial Technology and Inclusion, Committee on Financial Services, U.S. House of Representatives, Washington, D.C. Michael S. Gibson, Director, Division of Supervision and Regulation referred to the newly-created “Novel Activities Supervision Program.” The program will “Focus on the supervision of risks posed by novel, technology-driven activities at banks.…

On November 10, the Fed released its biannual Supervision and Regulation Report ahead of congressional oversight hearings next week. The report covers banking system conditions,...

The Federal Reserve Board recently issued two Supervision and Regulation Letters that provide guidance on the agency’s supervision of novel activities and the process such as fintech...

On August 8, 2023, the Board of Governors of the Federal Reserve System issued two Supervision and Regulation Letters that provide guidance on the agency's supervision of novel activities and the process that state member banks should follow to engage in certain stablecoin/Dollar Token activities.

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by...

Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step...

Earlier this month, the Federal Reserve Board (FRB) released two supervision and regulation letters regarding the agency’s program to supervise “novel” banking activities.

Republican representatives from the House Financial Services Committee have expressed concerns over the Federal Reserve's recent interventions in the cryptocurrency sector.

Leaders of the U.S. House of Representatives Financial Services Committee have sent a letter to Federal Reserve Chairman Jerome Powell to object to bank guidance on stablecoins.

On August 8, 2023, the Federal Reserve released new guidance for supervised banking organizations on how they can engage in certain crypto-asset-related activities. With the release of...