US Corporate Law News: US Treasury releases report detailing principles and recommendations for Fintech companies

12 August 2018 | Applicable law: US

On July 31, 2018, the U.S. Department of the Treasury released a report outlining proposed improvements to the regulatory scheme for Fintech and nonbank financial companies. 

The report is the fourth in a series of Treasury reports in response to Executive Order 13772, which calls on the Treasury to identify laws and regulations to encourage growth in the Fintech sector. The highlights among the 80 recommendations include: (1) the endorsement of a new federal bank charter for Fintech companies; (2) the enactment of stringent federal data security and breach notifications rules to protect consumers; and (3) the use of regulatory "sandboxes" thereby permitting companies to seek regulatory guidance while simultaneously releasing innovative products or services.

For more information, see here.

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.


Related experience

As a full-service law firm, we are able to provide advice and information about a wide range of other issues. Here are some related areas.

Join the club

We have lots more news and information that you'll find informative and useful. Let us know what you're interested in and we'll keep you up to date on the issues that matter to you.