Recent Development in Fintech Regulation

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Course Information

Time 60 Minutes
Difficulty Intermediate

Course Description

The explosion of the financial technology or “fintech” industry has been one of the most notable developments of the global financial services industry in recent years. The fintech industry is comprised of companies that make use of new technologies to provide financial services traditionally offered by banks, companies that partner with banks to provide financial services using innovative technologies, and other companies that provide financial technology services. 

The regulatory framework for fintech is made up of a number of federal and state laws and regulations and is quickly evolving. This course, taught by Covington & Burling attorney Jenny Scott Konko, provides an introduction to the fintech industry, its regulation, and recent hot topics and transactions affecting the industry.

Learning Objectives:

  1. Examine the meaning of “fintech”
  2. Identify key fintech-related products and services (e.g., virtual currencies, online marketplace lending, payment technologies, blockchain and other distributed ledger technologies, initial coin offerings)

  3. Review select financial services regulatory regimes that apply to fintech, including relevant regulatory agencies, laws, regulations, and guidance

  4. Discuss selected hot topics affecting the legal and regulatory landscape for fintech, including recent litigation regarding the OCC’s proposal to offer a special purpose national bank charter for fintech companies; the New York license for bitcoin-related companies and other state-level initiatives; and reactions to fintech and blockchain technology from the regulatory agencies and Congress, including pending federal legislation

Credit Information

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Jenny Scott Konko


Jenny Konko’s practice focuses on advising clients at the intersection of financial services regulation and policy.

Ms. Konko advises banks, fintech companies, and other financial institutions on the full spectrum of regulatory, compliance, transactional, and enforcement matters. Leveraging her knowledge of federal and state banking, consumer protection, and money transmission laws, she helps clients find innovative solutions that enable them to provide products and services globally in a complex and evolving business and regulatory environment.

Ms. Konko also has extensive experience advising clients on strategic and results-driven legislative, regulatory relations, and public policy matters on a wide range of financial services issues. She frequently advises clients on new legislation, such as the Dodd-Frank Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act—both assisting clients in navigating the legislative and rulemaking process, and implementing the resulting laws and regulations.

Ms. Konko is a member of the Bar of New York. District of Columbia bar application pending; supervised by principals of the firm.