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OCC to Grant Federal Charters to Fintech Firms

12/5/2016
The OCC “will move forward” with plans to provide special-purpose national bank charters to financial technology firms, Comptroller of the Currency Thomas Curry announced on Friday.

Fed: Debit Fraud Costs Jump 44 Percent in Two Years

12/1/2016
Debit card-related fraud losses to merchants, cardholders and issuers rose 44 percent from 2013, reaching $2.41 billion in 2015, according to the Federal Reserve’s biennial survey of debit card issuers’ costs released yesterday.

Banks’ Net Income Rises Strongly in Third Quarter

11/30/2016
FDIC-insured banks and savings institutions earned $45.6 billion in the third quarter, up 12.9 percent from the industry’s earnings a year before, the FDIC said yesterday.

CFPB Bulletin Outlines Incentive Compensation Expectations

11/29/2016
While the bureau acknowledged that incentive programs can benefit both companies and customers, it cautioned financial institutions that inadequate oversight or setting unrealistic goals could lead to consumer harm.