News & Analysis as of

Federal Reserve Special Purpose National Bank Charter

Ballard Spahr LLP

NYDFS files brief with Second Circuit in OCC’s appeal from district court judgment in lawsuit challenging fintech charter

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The New York Department of Financial Services (DFS) has filed its opening brief with the Second Circuit in the OCC’s appeal from the district court’s final judgment in DFS’s lawsuit challenging the OCC’s issuance of special...more

Nutter McClennen & Fish LLP

Bank Report: October 2019

Federal Banking Agencies Adopt Simplified Capital Calculation for Community Banks The federal banking agencies have issued a final rule that will simplify capital requirements for community banks by allowing them to adopt...more

Ballard Spahr LLP

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

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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

Fintech in Brief: Update on Legal Challenges to OCC Fintech Charter

On March 19, 2019, the New York State Department of Financial Services (“NYDFS”) filed a brief in opposition to the Office of the Comptroller of the Currency’s (“OCC”) motion to dismiss the NYDFS’ lawsuit challenging the...more

Kilpatrick

Federal Reserve Reportedly Has Reservations About OCC and FDIC Fintech Initiatives

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Press reports indicate that the Federal Reserve has concerns and reservations about providing fintech companies with access to the banking system through bank charters. As we have previously reported, the OCC announced last...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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We’ve got details on China’s proposed trade peace deal along with thoughts on whether it’ll be sufficient to satisfy a White House that’s been itching for a fight....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

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