7 Key Takeaways: Fintech & Banking 2018 - The OCC Begins Accepting Bank Charters from Fintech Companies

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Twenty months ago, the Office of the Comptroller of the Currency (OCC) decided to move forward with considering applications from fintech companies to become special purpose national banks (SPNBs). In early 2017, the OCC provided additional guidance on evaluating special purpose national bank charter applications from fintech companies that engage in the business of banking and highlighted unique factors that the agency will consider in evaluating a fintech company application.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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