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On July 23, 2020, the Office of the Comptroller of the Currency (OCC) released Interpretive Letter #1170 (Letter) confirming that safekeeping and custody of cryptocurrency and crypto-assets (collectively, cryptocurrency) are traditional banking services and, therefore, are permissible activities for national banks and federal savings associations.
2014 was a defining year for the Consumer Financial Protection Bureau (“CFPB” or “Bureau”). The Bureau solidified its jurisdiction of the 19 enumerated statutes[1] transferred to it by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”),[2] and continued making great strides in its regulation of consumer financial products and services.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
