On April 30th – May 1st, ACI will host its FinTech and Emerging Payment Systems conference at the Park Lane Hotel in New York City.

We are pleased to announce that Troutman Sanders Partner Keith Barnett will be speaking at a panel titled ” Examining the Evolving State Regulatory and Enforcement Paradigm Governing FinTech and Payments” at ACI’s Legal Regulatory and Compliance Forum on FinTech and Emerging Payment Systems conference on April 30th, 2018 at 11:15am.

FinTech and payment systems startups are burdened with a fractured and struggling regulatory system among the various states. As more and more FinTech startups and other “nonbanks” are entering into the market and aiming to provide financial services to consumers and businesses, they are faced with the reality that it can take several months and thousands of dollars in compliance fees to obtain regulatory approval to operate in just one state. Now, imagine the frustration that companies navigating our 50-state licensing regime are experiencing, as they are facing years and millions of dollars to launch a product nationwide, thus hindering their ability to get to market. During this session, a panel of state regulators will provide key insights on:

  • How states are reacting to new and emerging federal initiatives, including the OCC Fintech Charter to license FinTechs as special purpose banks
  • State-level initiatives aimed at modernizing and harmonizing financial regulation of non-banks and FinTech companies operating nationwide – The CSBS’ Vision 2020
  • State views on the Industrial Loan Charter option
  • Developments in state regulation of money transmitters, consumer lenders, bit licenses, payment processing, and beyond
  • Actions being taken to better align multi-state licensing, examination and supervision
  • Assessments and audits of state regulatory practices to better foster innovation without sacrificing safety, soundness or consumer protection

To obtain additional information, visit the ACI conference website.