Otting said Wednesday to reporters that no firms considering the OCC Fintech Charter have mentioned concerns about the Fed standing...
While it’s no surprise that many fintech companies were exploring the OCC fintech charter it is interesting that both Google...
First, we had Varo. Then came Square. More recently SoFi, then Figure, now Oportun is joining the party. Let’s not...
Moody's has issued comments on the OCC's announcement to offer a fintech charter; says the fintech charter would help reduce legal risks from partner bank funding; focuses on the effects from the charter on partner bank funding relationships; says banks could stop relying on partner banks to fund loan originations. Source
The Office of the Comptroller of the Currency (OCC) has been regulating national banks since the time of Abraham Lincoln....
Financial inclusion is a factor considered by the Office of the Comptroller of the Currency (OCC) in all of its banking charters; American Banker discusses how the fintech charter's financial inclusion provisions compare to the Community Reinvestment Act requirements for banks; the new fintech charter would require fintechs to detail how they plan to promote financial inclusion with accountability from the OCC for those goals and more direct OCC enforcement actions for fintech companies. Source
Regulators and fintech leaders gathered in Washington DC yesterday to discuss the fintech chartering process and some of the biggest challenges...
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
The new head of the OCC, Joseph Otting, reaffirms the agency’s support of the fintech charter. Source
Yesterday, a New York federal judge ruled that the New York Department of Financial Services (NYDFS) could proceed with two...