Tagged: fintech charter

State Bank Regulators Look to Pick Another Fight with OCC on Fintech Charter with Renewed Litigation

According to a post on the Conference of State Bank Supervisors (CSBS), the group is gearing up for more litigation pertaining to the renewed push by the Office of the Comptroller of the Currency (OCC) and their Fintech Charter. The CSBS is a national lobbying… Read More

PeerIQ CEO Ram Ahluwalia on OCC Fintech Charter: Consumers Win if it is Implemented Correctly

At the end of July, the US Department of Treasury published a wide-sweeping document on Fintech innovation in the US and what must be done to boost innovation in financial services. While much of the document addressed much needed regulatory reform and overlapping state and… Read More

Attorney Brian Korn: Fintech Charters Will NOT be Effective Unless Federal Preemption is Available to Holders

After years of discussion, and multiple attempts by traditional finance to block a Fintech Charter offered by the Office of the Comptroller of the Currency (OCC), in a surprise move the OCC announced this week it would begin accepting applications from Fintechs to gain a… Read More

Financial Innovation Now, the Group that Represents Amazon, Apple, Google & More, Welcomes OCCs Decision to Move Forward with Fintech Charter

Financial Innovation Now (FIN), the group that represents big techs interest in Fintech, has issued a comment on the decision by the Office of the Comptroller of the Currency (OCC) to move forward with a Fintech Charter following the release of a report on Fintech by… Read More

Here is the Licensing Manual Supplement from the OCC Pertaining to Applications for Fintech Charters

The Office of the Comptroller of the Currency (OCC) announced its intent to move forward with Fintech Charters following a policy document on Fintech published by the US Department of Treasury. The announcement was accompanied by an update to the OCC’s licensing manual. The document… Read More

Boom: OCC Begins Accepting Fintech Charter Applications Following Treasury Report that Urged Comptroller to Move Forward

Following a report on Fintech published by the US Department of Treasury that encouraged the Office of the Comptroller of the Currency (OCC) to move forward with Fintech Charters, the OCC announced it has begun accepting applications for “national bank charters from non-depository financial technology… Read More

OCC: Comptroller Tells Community Bankers Position on Fintech Charter is Forthcoming

The Independent Community Bankers of America (ICBA) “stormed” Washington, DC this past week as community bankers from across the country urged much needed regulatory reform. The ICBA pronounced the “excessive and unnecessary regulation is stifling their ability to meet the needs of local communities.” As part… Read More

State Bank Regulators Take Step Forward to Streamline Licensing Process for Fintechs. Is this a Good Thing?

Yesterday, the Conference of State Bank Supervisors (CSBS) took a step forward to streamline the process of licensing  Fintech firms seeking to operate across the US. If you are based outside the US you may be surprised to know that banks and Fintechs must comply… Read More

Joseph Otting Has a Lot on His Plate as the New Comptroller

Joseph Otting, a former banker and CEO of OneWest Bank, was approved by the Senate in a party line vote last week to take over the helm at the Office of the Comptroller of the Currency (OCC). As Comptroller, Otting will be stepping into an… Read More

Keith Noreika from OCC: The US Banking Industry Needs More Competition, Not Less #Fintech

  Acting Comptroller of the Currency Keith Noreika delivered a speech today discussing the US banking industry. In the speech, Noreika makes an important point: US banks need more competition, not less. He also intimates that mixing commerce and banking can deliver benefits to consumers…. Read More

Acting Comptroller of the Currency Keith Noreika Addresses Online Lending & Fintech Innovation

Speaking at the Online Lending Policy Summit in Washington, DC, Acting Comptroller of the Currency Keith Noreika discussed the online lending industry and his perspective on responsible innovation. Noreika told the conference participants; “I see the growth of online lending and marketplace lenders as the… Read More

Congresswoman Maxine Waters Wants a Hearing on SoFi’s Bank Application [u]

Congresswoman Maxine Waters, the ranking Democrat on the powerful House Financial Services Committee, published a letter last week directed toward thes Chairman of the Federal Deposit Insurance Corporation (FDIC). Representative Waters asked the Chairman to hold at least one public hearing on the application by… Read More

OCC Motion to Dismiss Regarding Conference of State Bank Supervisors Lawsuit: A Fatally Premature Attempt to Remedy a Speculative Harm

Earlier this month the Office of Comptroller of the Currency (OCC) fired off a counter salvo in the legal battle regarding the OCC Fintech Charter. The Conference of State Bank Supervisors (CSBS) launched an attack against the OCC this past spring. Many Fintech industry participants… Read More

Vincent Basulto Provides Perspective on OCC Fintech Charter Speech by Comptroller Keith Noreika

Yesterday, the acting Comptroller of the Currency, Keith Noreika, dove into one of the hottest debates the Office of the Comptroller of the Currency (OCC) has endured in years. Noreika expressed his support on the concept of creating a national Fintech Charter to allow nascent… Read More

Acting Comptroller Answers Fintech Question: “What are your thoughts on granting national bank charters to financial technology companies?”

The Acting Comptroller of the Office of the Comptroller of the Currency, Keith Noreika, answered a pressing question today in a speech delivered at the Exchequer Club in Washington, DC. Noreika asked the question of himself that everyone in finance had been wondering; “What are… Read More

OCC Office of Innovation Schedules Open Office Hours for Fintech & Traditional Finance Firms

The Office of the Comptroller of the Currency (OCC) is opening up its doors at its Office of Innovation.  Announced today, the OCC will host office hours for its Office of Innovation at the OCC’s district office in New York City. The OCC is welcoming… Read More

Point of View: Regulating The Fintech Revolution

What was previously a relatively innocuous industry sector, the financial technology (or “Fintech”) industry has exploded over the past few years. With the litany of new Fintech startups and existing Fintech businesses, and even Fintech specific incubators and accelerators popping up, the Fintech revolution is… Read More

Is the CSBS Vision 2020 the Answer to the OCC Fintech Charter?

Earlier this week, the Conference on State Bank Supervisors (CSBS) announced their “Vision 2020” initiative. The intent is to provide a solution for emerging Fintech firms and non-bank financial services. Vision 2020 comes after the CSBS sued the Office of the Comptroller of the Currency… Read More

Here is the Complaint Filed by the New York State Department of Financial Services Against the Office of the Comptroller of the Currency

As we reported last week, Maria T. Vullo, the Superintendent of the New York State Department of Financial Services, filed a lawsuit against the Office of the Comptroller of the Currency (OCC), and Keith Noreika, acting Comptroller. The complaint pertains to the OCC”s Fintech Charter…. Read More

New York Department of Financial Services Sues OCC Regarding National Fintech Charter

The New York Department of Financial Services has filed a lawsuit in US District Court in Manhattan against the Office of the Comptroller of the Currency (OCC). The action was taken to challenge the OCC’s initiative to issue national Fintech Charters. Reuters reported the NYDFS legal… Read More

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