News & Analysis as of

National Bank Charters Preemption

Ballard Spahr LLP

OCC payments charter quickly generates industry concern

Ballard Spahr LLP on

As we reported, Acting Comptroller of the Currency Brian Brooks has previewed the OCC’s plans to introduce another special purpose national bank charter that would give payment companies a nationwide servicing platform and...more

Latham & Watkins LLP

OCC’s New Comptroller Announces Innovative Fintech Initiatives

Latham & Watkins LLP on

A new Payments Charter could enable entities to engage in payments-related activities on a nationwide basis, rather than by state. The US Office of the Comptroller of the Currency’s (OCC) newly appointed Acting...more

Orrick, Herrington & Sutcliffe LLP

Madden Progeny Update

The Second Circuit’s decision in Madden v. Midland Funding, LLC was announced in 2015. Since that time, there have been a number of cases brought based on the Second Circuit opinion, as well as recent regulatory proposals...more

Jones Day

OCC Fintech Charter Headed to the Second Circuit

Jones Day on

The Situation: The Office of the Comptroller of the Currency ("OCC") has appealed a decision from the Southern District of New York that concluded that the OCC lacks the authority to grant "Fintech Charters" to nondepository...more

Snell & Wilmer

Emerging Trends in the Regulation of Fintech and Blockchain Technology: An Update on the National Fintech Charter

Snell & Wilmer on

Given the heavily regulated nature of financial services in the United States, it should not be a surprise that one of the biggest challenges facing the “fintech” industry is regulatory uncertainty. As explained by the...more

Ballard Spahr LLP

OCC to Accept Applications from Fintech Companies Seeking National Bank Charters

Ballard Spahr LLP on

The Office of the Comptroller of the Currency’s (OCC) announcement this week that it will begin accepting applications for special purpose national bank (SPNB) charters from financial technology (Fintech) companies represents...more

Ballard Spahr LLP

House passes bills to facilitate online banking, allow federal savings associations to exercise national bank powers

Ballard Spahr LLP on

The following bills were passed by the House earlier this week: The “Making Online Banking Initiation Legal and Easy (MOBILE) Act, H.R. 1457. Passed by a vote of 397-8, the MOBILE Act would allow a bank to scan and retain...more

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