As reported in American Banker, consumer advocacy groups are concerned that financial inclusion expectations for fintechs chartered as special-purpose national banks may not perfectly mirror the requirements of the Community...more
8/16/2018
/ Community Reinvestment Act ,
Consumer Financial Products ,
Consumer Lenders ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Innovative Technology ,
Loans ,
Low-Income Issues ,
Non-Bank Lenders ,
Regulatory Oversight ,
Regulatory Standards ,
Special Purpose National Bank Charter ,
Subprime Mortgages
The CSBS’ request for an injunction may prompt the OCC to slow down or abandon its willingness to consider issuing national bank charters to fintech companies....more
The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties.
On January 24, the Office of...more
2/22/2017
/ Banking Sector ,
Banks ,
Consumer Lenders ,
Due Diligence ,
FDIC ,
Financial Institutions ,
FinTech ,
Innovation ,
Innovative Technology ,
Loans ,
Mortgages ,
OCC ,
Online Marketplace Lending ,
Risk Assessment ,
Risk Management ,
Small Business ,
Student Loans ,
Technology ,
Third-Party Relationships