In the more than eight years since the Dodd-Frank Act passed, just 13 new U.S. banks have been chartered — and in some years, no new banks have been chartered at all. ABA Chairman Ken Burgess, who co-founded FirstCapital Bank of Texas as a de novo two decades ago, is concerned about these numbers.
Under a major new transparency initiative, the FDIC will publish key performance metrics on its website, agency chairman Jelena McWilliams said today.
The OCC will move ahead with plans — first announced under Comptroller Joseph Otting’s predecessor — to consider applications from fintech companies for special-purpose national bank charters, the agency said today.
The OCC today issued a revised policies and procedures manual spelling out its approach to licensing applications from banks that have non-satisfactory Community Reinvestment Act ratings, either overall or in a particular geographic region.
To ensure transparency and clarity as the OCC begins granting special-purpose national bank charters for fintech companies, ABA urged the agency to solicit public comment and pursue federal interagency cooperation when it weighs action on charter applications.
The OCC today released its long-awaited draft licensing manual for fintech companies seeking the agency’s new limited-purpose national bank charters.
The OCC’s plan to issue limited-purpose national bank charters to fintech companies is not a path to “light-touch” regulation, nor will it mix banking and commerce, Comptroller of the Currency Thomas Curry said at an industry conference in New York today.
The OCC today rolled out the first phase of its new Central Application Tracking System, which will allow the banks it regulates to draft, submit and track licensing and public welfare investment applications.
The OCC today finalized a rule that would make several regulatory adjustments as part of its efforts under the Economic Growth and Regulatory Paperwork Reduction Act to reduce unnecessarily burdensome or outdated banking rules.