The OCC has filed its reply brief with the Second Circuit in its appeal from the district court’s final judgment in the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s issuance of...more
The OCC has appealed to the Second Circuit from the district court’s final judgment entered in October 2019 in the lawsuit filed by the New York Department of Financial Services seeking to block the OCC’s issuance of special...more
The D.C. federal district court has granted the OCC’s motion to dismiss the lawsuit filed by the Conference of State Bank Supervisors (CSBS) to block the OCC from issuing special purpose national bank (SPNB) charters to...more
9/6/2019
/ Article III ,
CSBS ,
Discovery ,
Financial Services Industry ,
FinTech ,
Fintech Charter ,
Injury-in-Fact ,
Motion for Leave ,
Motion to Dismiss ,
OCC ,
Popular ,
Ripeness ,
Special Purpose National Bank Charter ,
Standing
Last Thursday, the OCC filed a letter with the New York federal district court hearing the lawsuit filed by the New York Department of Financial Services (NYDFS) seeking to block the OCC’s issuance of special purpose national...more
As we reported, a dark cloud is now hanging over the OCC’s decision to accept applications for special purpose national bank (SPNB) charters from fintech companies as a result of the opinion issued on May 2 by a New York...more
The New York Department of Financial Services has filed a memorandum of law opposing the OCC’s motion to dismiss the NYDFS’s second lawsuit seeking to block the OCC’s issuance of special purpose national bank (SPNB) charters...more
3/22/2019
/ Article III ,
CSBS ,
Financial Services Industry ,
Fintech Charter ,
Injury-in-Fact ,
Motion for Leave ,
Motion to Dismiss ,
NYDFS ,
OCC ,
Popular ,
Ripeness ,
Special Purpose National Bank Charter ,
Standing ,
Subject Matter Jurisdiction
Earlier last month, the Conference of State Bank Supervisors (CSBS) filed a brief opposing the OCC’s motion to dismiss the second lawsuit filed by CSBS to stop the OCC from issuing special purpose national bank (SPNB)...more
As expected, the OCC filed a motion to dismiss the second lawsuit filed by the New York Department of Financial Services (DFS) in a New York federal district court to block the OCC’s issuance of special purpose national bank...more
The OCC has filed a motion to dismiss the lawsuit filed in D.C. federal district court in October 2018 by the Conference of State Bank Supervisors (CSBS) to stop the OCC from issuing special purpose national bank (SPNB)...more
1/10/2019
/ Article III ,
CSBS ,
FinTech ,
Fintech Charter ,
Injury-in-Fact ,
Motion to Dismiss ,
OCC ,
Popular ,
Ripeness ,
Special Purpose National Bank Charter ,
Standing
The Conference of State Bank Supervisors (CSBS) has filed a second lawsuit in D.C. federal district court to stop the Office of the Comptroller of the Currency (OCC) from issuing special purpose national bank (SPNB) charters...more
In a press release, the organizers of Varo Bank, N.A. announced they have been granted preliminary approval by the OCC of their application to form a de novo national bank, which they claim “put[s] Varo on track to become the...more
The Office of the Comptroller of the Currency’s (OCC) announcement this week that it will begin accepting applications for special purpose national bank (SPNB) charters from financial technology (Fintech) companies represents...more
8/3/2018
/ Capital Requirements ,
FDIA ,
Financial Services Industry ,
FinTech ,
Fintech Charter ,
National Bank Charters ,
OCC ,
Policy Statement ,
Preemption ,
Regulatory Requirements ,
Special Purpose National Bank Charter
The Office of the Comptroller of the Currency (OCC) has taken another step toward implementing its proposal to allow financial technology (fintech) companies to apply for a special purpose national bank (SPNB) charter,...more
The New York State Department of Financial Services (NYDFS) has come out strongly against an Office of the Comptroller of the Currency (OCC) proposal to grant national bank charters to financial technology (fintech)...more
1/30/2017
/ American Bankers Association ,
Anti-Money Laundering ,
Banking Sector ,
Banks ,
Capital Requirements ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
FDIC ,
Federal Reserve ,
FinTech ,
Fintech Charter ,
National Bank Act ,
National Bank Charters ,
NYDFS ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Oversight ,
Technology ,
Terrorism Funding
The Office of the Comptroller of the Currency (OCC) has proposed to allow financial technology (fintech) companies to apply for full or special purpose national bank charters. In advance of the proposal's January 15, 2017,...more