Financial tech and its $147 billion potential market opportunity required financial regulators to supervise the industry. In 2015, investments in the fintech sector doubled, reaching $14 billion.
Office of the Comptroller of the Currency
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The Office of the Comptroller of the Currency ordered Rabobank in December to straighten out the issues plaguing its anti-money laundering programs in an order made public recently, Reuters reported.
JP Morgan Chase & Co. was mandated to pay USD389 million in penalties and restitution after the bank was alleged in unfairly charging its customers for credit monitoring programs.
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