News & Analysis as of

National Bank Charters Office of the Comptroller of the Currency Regulatory Oversight

Katten Muchin Rosenman LLP

Bridging the Week - May 2019

The New York Department of Financial Services was told by a federal court in New York that it could proceed with its lawsuit challenging plans of the Office of the Comptroller of the Currency to accept and consider...more

Ballard Spahr LLP

Fed reported to have reservations about fintech charter

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Last July, the OCC announced its decision to accept applications for special purpose national bank (SPNB) charters from fintech companies. ...more

Ballard Spahr LLP

Fintech bank announces preliminary OCC approval of national bank charter

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In a press release, the organizers of Varo Bank, N.A. announced they have been granted preliminary approval by the OCC of their application to form a de novo national bank, which they claim “put[s] Varo on track to become the...more

Stinson LLP

OCC Now Accepting Charter Applications for Fintech Companies

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On July 31, 2018 the Office of the Comptroller of the Currency (OCC) announced that, effective immediately, it is now accepting national bank charter applications from nondepository financial technology (fintech) companies...more

Orrick, Herrington & Sutcliffe LLP

Federal Regulators Issue Key Guidance on Fintech Issues

On July 30, the U.S. Department of the Treasury ("Treasury") and the Office of the Comptroller of the Currency ("OCC") provided important guidance on a broad range of issues confronting the fintech industry. Treasury released...more

Stinson LLP

Critical Question: Inquiry and Analysis on Whether an Uninsured Nationally Chartered Fintech Bank Charter Can Export Interest...

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The Comptroller of the Currency (“OCC”) presented a White Paper in December 2016 on Exploring Special Purpose National Bank Charters for Fintech Companies (“White Paper”). Comptroller Tom Curry noted that he had asked the OCC...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

Ballard Spahr LLP

Acting OCC Comptroller Noreika provides further thoughts on SPNB charter proposal

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In remarks last week at Georgetown University’s Institute of International Economic Law’s Fintech Week event, Acting OCC Comptroller Keith Noreika provided the “latest on our thinking regarding a charter for fintech companies...more

Ballard Spahr LLP

Conference of State Bank Supervisors names fintech advisory panel members

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The Conference of State Bank Supervisors has released a list of 33 companies that will serve as members of its Fintech Industry Advisory Panel. According to the CSBS, the Advisory Panel’s purpose is “to support state...more

Ballard Spahr LLP

OCC moves to dismiss NYDFS lawsuit challenging special purpose national bank charter for fintech companies

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The Office of the Comptroller of the Currency (OCC) has filed a motion to dismiss the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank...more

Ballard Spahr LLP

OCC files renewed motion to dismiss state regulators’ challenge to fintech company special purpose national bank charter proposal

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The Office of the Comptroller of the Currency (OCC) has filed a renewed motion to dismiss the lawsuit filed by the Conference of State Bank Supervisors (CSBS) in D.C. federal district court challenging the OCC’s authority to...more

Kilpatrick

[Webinar] Exploring Special Purpose National Bank Charters for Fintech Companies - May 24th, 1:00pm ET

Kilpatrick on

Kilpatrick Townsend is pleased to present our inaugural Fintech Webinar Series designed to discuss timely topics involving the fintech industry. Please invite others from your organization and stay tuned for future fintech...more

Ballard Spahr LLP

Vision 2020: an alternative to an OCC fintech charter?

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On May 10, the Conference of State Bank Supervisors (CSBS) announced a series of initiatives (branded as Vision 2020) designed to modernize state regulation of non-banks. The announcement specifically calls out financial...more

Orrick, Herrington & Sutcliffe LLP

OCC to Move Forward with Considering Fintech Charter Applications

The OCC’s announcement to move forward considering fintech charter applications has potentially significant industry, policy and practical implications. This presentation explores industry reaction to the OCC’s decision,...more

Ballard Spahr LLP

NYDFS, American Bankers Association Weigh In On OCC Fintech Charter Proposal

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The New York State Department of Financial Services (NYDFS) has come out strongly against an Office of the Comptroller of the Currency (OCC) proposal to grant national bank charters to financial technology (fintech)...more

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