OCC

No Need to Fight Over the OCC’s Fintech Charter

The Office of the Comptroller of the Currency’s decision to move forward with a new banking charter to benefit certain lenders and money transmitters that utilize innovative technology and do not accept federally insured deposits (the so-called fintech charter) has been controversial to say the least.

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Why There’s No Need for the OCC’s Fintech Charter

The dictionary defines a MacGuffin as an object, event or character in a movie that serves to set and keep the plot in motion despite lacking intrinsic importance. The Maltese Falcon is the best example: a priceless statue coveted by the characters in the film, which drives the plot until it turns out to be […]

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It’s a Mistake to Block the OCC’s Fintech Charter

The Conference of State Bank Supervisors recently announced that it intends to refile a lawsuit against the Office of the Comptroller of the Currency, and the New York State Department of Financial Services has refiled a lawsuit against the OCC, each in an effort to block the agency from offering special-purpose national bank charters to […]

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OCC’s Otting: Why Do State Regulators Want to Limit Consumer Choice?

The decision by the Office of the Comptroller of the Currency to begin accepting applications for special purpose national bank charters from fintech companies promotes innovation, gives consumers and businesses greater choice and creates economic growth and opportunity.

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OCC FinTech Efforts in Legal Crosshairs, While GDPR Still Lags

The battle over FinTechs and national banking charters is about to get a bit more heated. New York state is suing the United States. Or to put it a bit more specifically, the Conference of State Bank Supervisors sued the Office of the Comptroller of the Currency.

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New York Sues U.S. To Stop Fintech Bank Charters

New York state’s top banking regulator on Friday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and put vulnerable consumers at risk.

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State Regulators Refile Lawsuit Over OCC Fintech Charter Plans

US state financial regulators are to renew their litigation efforts over the recent decision by the Office of the Comptroller of the Currency to create a special purpose charter for financial technology firms. It’s the second time that the Conference of State Bank Supervisors (CSBS) has filed suit against OCC.

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Credit Unions Split on Potential Threat Posed by OCC’s Fintech Charter

With the Office of the Comptroller of the Currency having approved a national bank charter for fintechs this summer, a host of insiders have weighed in on potential pros and cons, and how OCC’s move might ultimately impact credit unions.

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OCC’s Fintech Charter Is a Mistake

The national fintech charter announced last week by the Office of the Comptroller of the Currency has been positioned by its supporters as a means of encouraging innovation and growth, but instead it brings new risks and market distortions to the U.S. economy.

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What’s Missing From the OCC’s Fintech Charter

The Office of the Comptroller of the Currency recently finalized its controversial decision to authorize a special-purpose fintech charter.

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