- Posts by Kristen Peters WatsonPartner
Kristen’s practice is focused on a wide range of consumer finance issues. She represents financial institutions such as banks, auto finance companies, credit card companies, debt buyers/collectors, and mortgage lenders.
On October 25, 2018, the Conference of State Bank Supervisors (CSBS) filed suit in the U.S. District Court for the District of Columbia challenging the Office of the Comptroller of the Currency's (OCC) creation of a new national bank charter for nonbank companies, which would include FinTech companies (the Nonbank Charter Program). See Conference of State Bank Supervisors v. Office of the Comptroller of the Currency, Case 1:18-cv-02449-DLF (D.D.C. Oct. 25, 2018).
In the complaint, the CSBS alleges that nonbank institutions-including FinTech companies-have been subject to ...
Last October, the Uniform Law Commission released the Uniform Regulation of Virtual-Currency Business Act (VCBA), which sets forth extensive requirements applicable to persons or entities who engage in virtual currency business activity with residents of a state. An overview of the VCBA and its key provisions can be found here.
Since its release, three states-Connecticut, Hawaii, and Nebraska-have introduced bills adopting the VCBA. To date, no state has enacted the proposed legislation.
Representative Patricia Dillon introduced HB No. 5496, which was ...
Although the virtual-currency business industry is still in its infancy, the Uniform Law Commission ("ULC") sought to create a statutory structure for regulating virtual-currency business activity in an effort to provide innovators and customers certain assurances with respect to the regulatory landscape. The ULC released its final version of the Uniform Regulation of Virtual-Currency Businesses Act ("VCBA") on October 9, 2017, which sets forth extensive requirements that must be met before a person or entity can engage in virtual-currency business ...
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