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Federal Reserve Fintech Charter Financial Services Industry

Venable LLP

Banking on a Nonbank Bank in 2024 - The ILC Option Revisited

Venable LLP on

Becoming or owning an industrial loan company (or ILC)—the elusive "nonbank bank" option, as Congress coined the term in 1987— still has an allure for financial services providers that want to (1) lend on a national scale...more

Ballard Spahr LLP

Fed proposal to revise control rules would not create alternative to OCC fintech charter

Ballard Spahr LLP on

The Federal Reserve Board has published in the Federal Register a notice of proposed rulemaking with request for comment on a proposal to simplify and increase transparency of its rules for determining control of a banking...more

Nutter McClennen & Fish LLP

How Fintech Regulatory Sandboxes Can Help the United States Catch Up to Europe and Asia

The framework of a regulatory sandbox should allow for informal dialogue with regulators at the idea or initial concept and early design stages, and controlled experiments with real-time regulatory input and feedback at the...more

Kilpatrick

Federal Reserve Hints at Upcoming Payments Announcement and Evaluation of Fintech Companies that Receive an OCC SPNB Charter

Kilpatrick on

Press reports indicate that the Board of Governors of the Federal Reserve System plans to announce the next step in its effort to speed payments in the U.S. financial system later this year. “We’ve been assessing various...more

Goodwin

Financial Services Weekly News - March 2017 #4

Goodwin on

Editor's Note - The Battle Over the Proposed OCC FinTech Charter Continues. The Office of the Comptroller of the Currency (OCC) has released a draft supplement to its Licensing Manual explaining the process for FinTech...more

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