Michael Hsu News

06.12 / 16:47

US banking regulator warns on risks of 'buy now, pay later'

(Reuters) — A top U.S. banking regulator on Wednesday warned banks to manage the risks to consumers posed by increasingly popular «buy now, pay later» financing for retail spending, saying the service creates pitfalls for retail shoppers.

14.11 / 20:25

CEO Citigroup social committee Financial Senate Banking Committee Discusses Accountability, Oversight of Financial Regulators in Tuesday Hearing

The Senate Committee on Banking, Houses, and Urban Affairs met on November 14th to conduct a hearing regarding oversight of financial regulators.

10.03 / 21:39

regulation Congress banking Discrimination Senators US senators write to banking regulators about potential crypto discrimination

Four United States Republican senators lead by Bill Hagerty have written a letter to the heads of federal banking regulatory agencies questioning the ideological motivation behind recent regulatory moves in regard to cryptocurrency. They compared the regulators’ policies to the Obama administration’s Operation Choke Point.

07.03 / 15:43

Blockchain CEO Remark Discover Shell FTX episode illustrates need for ‘Home’ regulator: Top U.S Banking official

According to one of the United States’ most prominent banking officials, cryptocurrency companies that operate many organizations in various nations should be under the control of a single, consolidated “home” regulator. This, to prevent them from engaging in “games” meant to circumvent laws.

08.02 / 01:19

Mining regulation Environment information lawmakers Energy usage Lawmakers write to US officials about crypto energy usage information gathering

United States Environmental Protection Agency Administrator Michael Regan and Energy Secretary Jennifer Granholm were the recipients Feb. 6 of another letter on the environmental impact of cryptocurrency mining. Eight Democratic lawmakers headed by Elizabeth Warren reached out to the officials this time.

20.01 / 17:17

FTX Bank Moonstone Bank is Closing the Accounts of its Crypto Clients to ’Refocus on Community Bank Role’

Moonstone Bank, a digital bank focused on serving high-net-worth individuals, has revealed that it is exiting the crypto space and will be refocusing on the "community bank" role.

18.01 / 11:27

UPS Top watchdog warns big banks may need to be broken up

WASHINGTON—Big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapses, a top federal banking regulator said in a warning shot across Wall Street on 17 January.

28.10 / 00:07

UPS regulation FinTech Financial US currency comptroller to up its game with new Office of Financial Technology in 2023

The United States Office of the Comptroller of the Currency (OCC) announced Oct. 27 that it will create an Office of Financial Technology early next year. The new office will incorporate the Office of Innovation, which was set up in 2016. It will be led a by a chief financial technology officer, who will report to the senior deputy comptroller for bank supervision policy.

14.10 / 13:53

Blockchain Waves Reuters SEC Time U.S. Comptroller thinks regulators are spending too much time on crypto

Michael Hsu, the acting Comptroller of the Currency (OCC) says that he is worried about the degree of attention that is received by crypto from United States regulators.

14.10 / 06:55

regulation us government banking Time Regulators are 'spending too much time' on crypto: Comptroller

United States Acting Comptroller of the Currency (OCC) Michael Hsu has expressed concerns that regulators are spending “too much time on crypto," rather than more pressing issues, such as technology and banking.

12.09 / 23:27

Adoption SEC Law Decoded, Sept. 5–12: The pressure is growing in the US

While last week brought no troubles from the market side of the crypto industry — no operations frozen, no bankruptcies filed — the United States regulators made some explicitly negative statements.

12.09 / 10:59

Provident Digital US Bank Regulator Warns Of Crisis Risk From Fintech Proliferation

The rise of fintech services and digital banking could spur financial risks and potentially a crisis over the long term, Michael Hsu, Acting Comptroller of the Currency, a major U.S. bank regulator, warned on Wednesday.

08.09 / 10:43

Digital US banking regulator: Crypto crash gives us ‘breathing space’

A rush to put out new crypto regulatory guidance has slowed down as a drop in asset values has made the task less urgent, a senior banking regulator said.

04.08 / 13:39

Blockchain regulation legislation Senator Warren proposes reducing Wall Street's involvement in crypto

The United States Senator Elizabeth Warren is continuing her anti-crypto campaign, this time proposing legislation that would effectively shut down bank-provided cryptocurrency services, according to a Bloomberg report on Thursday.

27.04 / 22:31

Government Stablecoin regulation Acting OCC comptroller calls for standards on stablecoins

Michael Hsu, the acting head at the United States Office of the Comptroller of the Currency, said stablecoins need standards comparable to the early internet.

22.04 / 03:27

Law Banks AML compliance OCC issues order against Anchorage Digital over AML compliance

The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and desist proceedings against cryptocurrency custody bank Anchorage Digital for violating certain anti-money laundering requirements.

01.04 / 11:11

UPS Ukraine war is elevating risk for banks, US regulator warns

Banks face a more uncertain environment amid the war in Ukraine and need to shore up their risk management programs to gird against multiple negative scenarios unfolding at once, a top US banking regulator said.

17.11 / 20:47

Government regulation Acting OCC head calls for consolidated supervision for crypto firms

Michael Hsu, the acting head of the United States Office of the Comptroller of the Currency, hopes to address gaps in supervision for companies dealing with cryptocurrencies.

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