OCC Issues Draft Licensing Manual for Fintech Charter Applicants
The OCC today released its long-awaited draft licensing manual for fintech companies seeking the agency’s new limited-purpose national bank charters.
Browsing: National Bank Act
Curry Addresses Fintech Charter Questions in Speech
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.
OCC to Grant Federal Charters to Fintech Firms
The OCC “will move forward” with plans to provide special-purpose national bank charters to financial technology firms, Comptroller of the Currency Thomas Curry announced today.
OCC Proposes Receivership Framework for Uninsured National Banks
In an effort to enhance its ability to grant new limited purpose charters, the OCC is issuing a proposed rule that would address how the agency will handle receiverships for national banks not insured by the FDIC, such as trust banks and other special purpose charters.
You Sure? Courts Unsettle Usury Case Law
Bankers and others are closely watching to find out if the usury battles thought long won and settled are re-opening.
ABA: Proposed DOL Fiduciary Rule Violates Federal Banking Law Provision
ABA this week met with the White House’s Office of Management and Budget to discuss the Department of Labor’s pending fiduciary rule, which redefines who counts as a fiduciary under the Employee Retirement Income Security Act.
Second Circuit Denies Rehearing in Third Party Debt Collector Preemption Case
The Second Circuit’s ruling does not apply where a non-bank entity is acting as an agent for the bank or where a state law interferes with the powers of a national bank.
Federal Court Rules NYC’s Responsible Banking Act Preempted by NBA
The district court’s ruling aligned with the arguments in the ABA’s amicus brief.
ABA Files Amicus Brief Over National Bank Act
Many were surprised that the OCC elected not to challenge the decision.