Tagged: occ

July 31, 2018 @ 2:33 pm By JD Alois  |  

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

June 13, 2018 @ 6:38 pm By JD Alois  |  

The JOBS Act of 2012 was create with the recognition of the importance of providing funding to early stage ventures and entrepreneurs. Access to capital can be really hard. This is even more true if you happen to live outside of prominent hotbeds of innovation… Read More

June 12, 2018 @ 11:26 am By JD Alois  |  

The House Financial Services Committee has scheduled a hearing entitled “Financial Industry Regulation: the Office of the Comptroller of the Currency.” The hearing, which will involve the Comptroller of the OCC Joseph Otting, will take place on Wednesday, June 13 at 10AM ET at the Rayburn… Read More

May 23, 2018 @ 7:05 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) issued a Bulletin today encouraging banks to issue small loans to consumers. In past years, banks have shied away from providing credit that was deemed too high risk to pursue and too costly to originate. As… Read More

May 18, 2018 @ 6:39 am By Samantha Hurst  |  

On Thursday, the Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours, on July 17th-19th, in San Francisco to promote responsible innovation in the federal banking system. According to the OCC, the Office Hours are one-on-one meetings with OCC… Read More

January 8, 2018 @ 2:53 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) has posted a warning regarding an entity calling itself Bluegate Industrial Bank USA, N.A.. The OCC said the firm claims to be an online financial institution offering regular banking products as well as loan services. Apparently… Read More

November 22, 2017 @ 6:15 pm By JD Alois  |  

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

November 10, 2017 @ 3:27 pm By JD Alois  |  

Acting Comptroller of the Currency Keith Noreika delivered a speech this week that has the traditional banking industry up in arms.  Noreika made the heretical statement that competition is good for the banking industry inciting the wrath of the Independent Community Bankers of America (ICBA),… Read More

October 19, 2017 @ 5:35 pm By JD Alois  |  

At Georgetown University today, Acting Comptroller of the Currency Keith Noreika reaffirmed his belief that Fintech s should have the option to apply for a national bank charter or Fintech Charter as it is frequently called. While there was little new in the presentation delivered… Read More

October 15, 2017 @ 5:01 pm By JD Alois  |  

Keith Noreika, acting Comptroller of the Currency, published an Op-Ed in the Hill on Friday that hammered the Consumer Financial Protection Bureau’s (CFPB) decision to push forward an updated rule on arbitration clauses for financial service firms. At the time the ruling was announced, CFPB… Read More

October 5, 2017 @ 2:26 pm By JD Alois  |  

Acting Comptroller of the Currency, Keith Noreika, delivered a speech to midsize bank risk officers today that struck a positive note. The head of the OCC said there was much room for optimism as the regulatory pendulum has shifted away from the monolithic belief that… Read More

September 25, 2017 @ 12:11 pm By JD Alois  |  

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

August 18, 2017 @ 9:49 am By JD Alois  |  

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

July 31, 2017 @ 1:59 pm By JD Alois  |  

Acting Comptroller of the Currency Keith Noreika is out with a statement on the controversial Consumer Financial Protection Bureau’s (CFPB) rule on arbitration agreements.  The CFPB announced a final position on Arbitration clauses with certain financial service firms and consumers. The rule has been criticized as… Read More

July 25, 2017 @ 8:00 am By JD Alois  |  

Varo Money has applied for a national bank charter from the Office of the Comptroller of the Currency (OCC) and with the Federal Deposit Insurance Corporation (FDIC) for federal deposit insurance. This is the next step in creating a digital only challenger bank (Varo Bank) that… Read More

July 20, 2017 @ 5:06 pm By JD Alois  |  

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

July 19, 2017 @ 2:44 pm By JD Alois  |  

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

June 19, 2017 @ 1:47 pm By JD Alois  |  

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

June 7, 2017 @ 1:31 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) is out with an FAQ to supplement a Bulletin (2013-29). Several of the items address Fintech specifically, as well as marketplace lending. This is part of the ongoing adjustment in the financial regulatory space where policymakers… Read More

May 30, 2017 @ 2:25 pm By Anthony Zeoli  |  

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