With banks engaged in advanced technological innovation and fintech firms pursuing a wide variety of strategic paths, ABA President and CEO Rob Nichols today laid out his views on competition in the financial industry in a speech at a fintech conference hosted by the Federal Reserve Bank of Philadelphia.
Acting Comptroller of the Currency Keith Noreika today backed a legislative approach that would clarify which laws apply to interest rates on loans if the loans are resold.
In a long-awaited speech today, Acting Comptroller of the Currency Keith Noreika embraced the OCC’s plans to issue special purpose national bank charters to fintech companies and emphasized that the plan upholds high bank-like standards and offers a level playing field.
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.
Two-thirds of small business executives rely a great deal or a moderate amount on banks to grow and maintain their businesses, according to a survey conducted by Morning Consult for the U.S. Chamber of Commerce.
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.
A bipartisan House Financial Services Committee task force today released a report on combating the financing of terror.
In a comment letter to the National Credit Union Administration today, ABA expressed strong opposition to an additional proposal by the credit union regulator to amend its chartering and field of membership requirements for federal credit unions seeking community charters.