Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step to stem risks related to crypto-assets, use of blockchain technology, and complex fintech partnerships with nonbanks to deliver financial services to customers. Through its newly announced Novel Activities Supervision Program (“NAS Program”), the Federal Reserve will be taking a harder look at its supervised banking organizations, even those with less than $10 billion in assets, “to ensure that the risks associated with innovation are appropriately addressed” in four key areas:
Stephen Pauwels
Stephen Pauwels is a discovery attorney with the firm’s Labor & Employment Law and E-Discovery Services & Strategy practices with a broad base of litigation and e-discovery knowledge. Stephen’s unique blend of experience makes him especially adept at identifying pertinent issues in a variety of practice areas to effectively target key documents.
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