Manatt is one of the leading professional services firms in fintech; in our latest guest post Brian Korn, Neil Faden,...
The Office of the Comptroller of the Currency (OCC) has been regulating national banks since the time of Abraham Lincoln....
American Banker reports on the lobbying group called Financial Innovation Now and that some technology giants are meeting individually with government agencies; Amazon met with the OCC starting in the second quarter of 2016 and met again this year; PayPal has also met with OCC officials in several quarters last year. Source
In this week’s PeerIQ Industry Update they cover the recent remarks by Fed Chairman Powell who says the recovery will...
A letter from the Office of the Comptroller of the Currency stated that bank custody services, which have long been...
Brian Brooks became the Acting Comptroller of the Currency last Friday and he hit the ground running; he issued a...
In December the Office of the Comptroller of the Currency (OCC) released its proposal for a fintech charter with an open comment period until January 15; the OCC has received numerous comments which can be found here; Lend Academy and LendIt submitted a response in favor of the fintech charter; their response outlines the difficulties online lenders have in complying with different rules in each of the 50 states; suggests nationalization of regulation would make platform operations more efficient and help the industry to broaden the benefits it can offer to financial inclusion and other nationwide initiatives. Source
Financial Health Network CEO Jennifer Tescher hosted a panel featuring Federal Deposit Insurance Corp. Chairman Jelena McWilliams and acting Comptroller...
SoFi has become the latest fintech to apply for a full national bank charter. They filed a de novo bank...
The Office of the Comptroller of the Currency (OCC) released its fintech charter in March; many state regulators oppose the charter saying the OCC doesn't have the authority to offer the charter and that the charter is dangerous, unnecessary and violates state sovereignty; Brian Knight from the Mercatus Center at George Mason University discusses these arguments and how state legislation may evolve with the introduction and debate of the fintech charter. Source
