Tagged: office of the comptroller of the currency

Acting Comptroller of the Currency Keith Noreika Hammers CFPB Arbitration Rule

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

Reason for Optimism: OCC Chief Says Reducing Regulatory Burden Means More Economic Opportunity

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

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

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

OCC Challenges CFPB on Arbitration: “Rule may adversely affect the institutions within the federal banking system and their customers”

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

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

Fintech

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

Comptroller of the Currency, Thomas Curry, Delivers Speech on Importance of Fintech Innovation

“That ability to adapt and evolve to meet the changing needs of customers and the marketplace is as critical” Thomas Curry, the Comptroller of the Currency, delivered a speech today at Kellogg School of Management in Chicago. The speech comes at an interesting time as… Read More

Lawsuit Filed Against OCC Fintech Charter: CSBS’ John Ryan Sheds Light on State Regulators vs. OCC

US state regulators have filed a lawsuit against the Office of the Comptroller of the Currency, upping the ante in an increasingly bitter dispute over the federal agency’s plans to offer bank charter status to qualifying fintech firms, according to a release. The complaint, lodged by… Read More

The OCC Issues Draft Requirements for a Fintech Charter. Is a Charter for Innovative Financial Firms Dead in the Water?

As expected, the Office of the Comptroller of the Currency has published a draft licensing manual regarding the creation of a Fintech Charter. The draft is a supplement to the agency’s existing Licensing Manual and explains how Fintech firms may apply for special purpose bank charters…. Read More

Comptroller of the Currency Thomas J. Curry: “We Will Be Issuing Charters to Fintech Companies”

Comptroller of the Currency Thomas J. Curry delivered a speech yesterday (March 6, 2017) at the annual LendIt conference where he discussed his recent proposal for a Fintech Charter. The OCC Fintech Charter, as it is described, is designed to bring innovative financial firms under… Read More

OCC Fintech Charter: We Need a Government that Embraces Financial Innovation

The Office of Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was created by the National Currency Act of 1863 (154 years ago, 20 years before the automobile was invented by Karl Benz from Germany)…. Read More

Proposed OCC National Fintech Charter Comments & Feedback

Last December, the Office of the Comptroller of the Currency (OCC) – part of the Department of Treasury-  proposed a “National Bank Charter for Fintech Companies”. The exploration stirred up a hornet’s nest of public officials that were not too pleased the OCC would think… Read More

Financial Innovation Now: We Support the OCC Fintech Charter

Financial Innovation Now (FIN) has sent a letter to the Office of the Comptroller (OCC) of the Currency in support of the OCC’s initiative to support Fintech innovation. FIN is an alliance of big tech including; Apple, Amazon, PayPal, Intuit and Google (Alphabet). As big… Read More

Deadline Nears for Comments on Proposed OCC Fintech Charter

  The Office of the Comptroller of the Currency is still accepting comments on the proposed Fintech Charter for financial firms looking to operate with a federal charter. The deadline was initially set for January 15th but one report says the OCC has pushed the… Read More

Here is the OCC Paper on National Bank Charters for Fintech Firms

In a speech today, Thomas Curry, Comptroller of the Currency, announced the creation of National Bank Charters for Fintech firms.  As part of the announcement, the Office of the Comptroller of the Currency (OCC) published a paper entitled; Exploring Special Purpose National Bank Charters for… Read More

Here is the Document from the OCC Outlining Their Recommendations on Fintech Innovation

The Office of the Comptroller of the Currency (OCC) is one of a dozen or so federal agencies that has regulatory oversight on financial institutions. Financial innovation or Fintech is challenging long-held processes and firms and the OCC is attempting to update and adjust to… Read More

Here is the Report from the Office of Comptroller of the Currency on Financial Innovation

The Office of the Comptroller of the Currency (OCC) published a report earlier this spring entitled, “Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective.” While the name may a bit convoluted the report is basically about Fintech and the financial system as… Read More

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