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Standing FinTech

Goodwin

Second Circuit Orders Dismissal of Legal Challenge to Fintech Charter Program

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On June 3, 2021, the Second Circuit ruled that the New York State Department of Financial Services (DFS) lacked legal standing to challenge the Office of the Comptroller of the Currency’s (OCC’s) fintech charter program. The...more

Proskauer - New Media & Technology

Plaid Federal Electronic Surveillance Claims Dropped, Privacy Claims Survive

On April 30, 2021 a California district court trimmed various federal privacy-related claims, including the Computer Fraud and Abuse Act (CFAA) claim, from a highly-visible, ongoing putative class action against fintech...more

Eversheds Sutherland (US) LLP

Second Circuit grapples with standing in case challenging OCC’s fintech charter authority

On March 9, a three-judge panel of the Second Circuit heard oral argument on the question of whether the OCC can legally issue national bank charters to non-depository financial technology (fintech) firms. The case is...more

Ballard Spahr LLP

Court dismisses lawsuit filed by state regulators to block OCC fintech charter

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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

Ballard Spahr LLP

NY Federal District Court Deals Blow To OCC Fintech Charter

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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 last week by a New York federal district...more

Nutter McClennen & Fish LLP

Fintech in Brief: New York State Challenge to OCC Fintech Charter Survives Motion to Dismiss

On May 2, 2019, Judge Victor Marrero of the U.S. District Court of the Southern District of New York denied two of three counts of the OCC’s Motion to Dismiss New York State’s challenge to the OCC’s statutory authority to...more

Dorsey & Whitney LLP

Court Halts, At Least for Now, The OCC’s FinTech National Bank Charter Program

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On Thursday, May 2, 2019, Judge Victor Marrero of the Southern District of New York issued an important decision in the closely watched Vullo v. Office of the Comptroller of the Currency et al., No. 1:18-cv-08377. Judge...more

McGuireWoods LLP

New York’s Lawsuit Contesting the OCC’s Fintech Charter Survives First Legal Hurdle

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On May 2, 2019, the U.S. District Court for the Southern District of New York denied the Office of the Comptroller of the Currency’s (OCC) motion to dismiss a complaint brought against it by the Maria T. Vullo, superintendent...more

Ballard Spahr LLP

OCC moves to dismiss state regulators’ second lawsuit opposing fintech charter

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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

Ballard Spahr LLP

OCC and N.Y. State Department of Financial Services Trade Contentious Pre-Motion Letters in Fintech Charter Dispute

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Attorneys for defendants, U.S. Comptroller and the Office of the Comptroller of the Currency (together “the OCC”), in the pending Southern District of New York lawsuit, Vullo v. OCC, submitted a letter to the court announcing...more

Burr & Forman

State Banking Regulators Challenge OCC’s Nonbank Charter Program

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On October 25, 2018, the Conference of State Bank Supervisors (CSBS) filed suit in the U.S. District Court for the District of Columbia challenging the Office of the Comptroller of the Currency’s (OCC) creation of a new...more

Poyner Spruill LLP

OCC FinTech Charter Status Update

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On April 30, 2018, the United States District Court for the District of Columbia dismissed a lawsuit filed one year earlier by the Conference of State Bank Supervisors (CSBS) disputing the authority of the Office of the...more

Kilpatrick

Federal Court Dismisses Second Lawsuit Challenging OCC Special Purpose National Bank Charter Proposal for Fintech Companies

Kilpatrick on

On April 30, 2018, the U.S. District Court for the District of Columbia dismissed the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in April 2017 challenging the Office of the Comptroller of the Currency’s...more

Ballard Spahr LLP

Federal court dismisses second lawsuit challenging OCC fintech company special purpose national bank charter proposal

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A D.C. federal district court has dismissed the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in April 2017 challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to...more

Kilpatrick

3 Key Developments: Fintech & Banking 2017: Further Exploration of Bank Charters for Fintech Companies

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One year ago, the Office of the Comptroller of the Currency (OCC) decided to move forward with considering applications from financial technology (fintech) companies to become special purpose national banks. In early 2017,...more

Ballard Spahr LLP

Court dismisses NYDFS lawsuit challenging special purpose national bank charter for fintech companies

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A New York federal district court has dismissed the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to nondepository...more

Perkins Coie

Fintech Week in Review – October 2017

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Morrison & Foerster LLP

Financial Services Report - Fall 2017

EDITOR’S NOTE - Through hurricanes, wild fires, the publication of Hillary Clinton’s book, the birth of Amal and George Clooney’s twins, and the Dodgers’ historic losing streak, Director Richard Cordray and the CFPB’s...more

Jones Day

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Morrison & Foerster LLP

Financial Services Report, Summer 2016

BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more

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