Tag Archives: OCC

New York Regulator’s Suit Challenging OCC Fintech Charter Dismissed as Premature

On Tuesday December 12, 2017, a federal judge dismissed without prejudice a suit filed by the New York Department of Financial Services (NYDFS) against the Office of the Comptroller of the Currency (OCC) challenging the OCC’s proposed new special-purpose fintech charter.  Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of … Continue Reading

Conference of State Bank Supervisors Files Lawsuit against OCC to Stop Special Purpose FinTech Charter

On April 26, 2017, the Conference of State Bank Supervisors (“CSBS”), the trade association that represents state banking regulators, initiated a lawsuit against the Office of the Comptroller of the Currency (“OCC”) in the U.S. District Court for the District of Columbia. The lawsuit seeks declaratory and injunctive relief to prevent the OCC from moving … Continue Reading

OCC Announces Special Purpose Charters for Fintech Firms

On Friday December 2nd, the Officer of the Comptroller of the Currency (OCC) announced that it would consider granting financial technology (fintech) firms special purpose national bank charters.  The OCC’s proposal constitutes a major development for fintech companies and the financial services industry more generally.  This move builds on recent actions taken by the OCC … Continue Reading

Banks and FinTech : More Than Meets the Eye

On December 16, 2015, the Office of the Comptroller of the Currency (OCC) issued its semiannual risk assessments for federally chartered financial institutions (PDF here). Relevant to FinTech, the OCC noted: Banks are increasingly adopting innovative products, services, and processes in response to the evolving needs for financial services and growing competition from other banks and … Continue Reading

OCC Aims To Understand FinTech

The Office of the Comptroller of the Currency has announced a new initiative to keep pace with innovation in the financial. On August 7, 2015, in remarks before the Federal Home Loan Bank of Chicago, the Comptroller of the Currency, Thomas J. Curry discussed the OCC’s efforts to develop a framework to evaluate new and … Continue Reading
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