Bank, Law, New York, Regulation, Financial services, United States

Congress, not the OCC, decides what is and isn't a bank

On Aug 19, 2020
@FintechBot shared
Congress, not the OCC, decides what is and isn't a bank https://t.co/IS6IALUn3e by AmerBanker 2020-08-19 14:27:31
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The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits.

www.americanbanker.com
On Aug 19, 2020
@FintechBot shared
Congress, not the OCC, decides what is and isn't a bank https://t.co/IS6IALUn3e by AmerBanker 2020-08-19 14:27:31
Open

Congress, not the OCC, decides what is and isn't a bank

Congress, not the OCC, decides what is and isn't a bank

The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits.

N.Y. regulator’s suit to stop fintech charter gets green light

N.Y. regulator’s suit to stop fintech charter gets green light

The Office of the Comptroller of the Currency had sought to dismiss the case, but a court ruling suggested that the state regulator’s claim may have merit.

Ex-N.Y. regulator Maria Vullo on fintech fight, Facebook's crypto plan

Ex-N.Y. regulator Maria Vullo on fintech fight, Facebook's crypto plan

The former Superintendent of New York banks weighs in on some of the toughest questions bank regulators are grappling with.

A Push-Pull Fight Over Fintech Charters

A Push-Pull Fight Over Fintech Charters

The legal battle simmering in New York is the latest iteration of the pushmi-pullyu battle of wills in the dual banking system.

States must rework their arguments against OCC fintech charters

States must rework their arguments against OCC fintech charters

States would be better served insisting that Congress allow them the opportunity to compete on an even playing field.

New York defeats OCC in legal battle over bank charters

New York defeats OCC in legal battle over bank charters

The US Office of Comptroller of the Currency has suffered a potentially fatal setback in its attempts to offer banking charters to fintechs after a New York judge ruled that the agency was ...

Banking on the Business of Banking: How the 2nd Circuit's Ruling in Lacewell v. OCC Could Change the Future of Fintech Regulation

Banking on the Business of Banking: How the 2nd Circuit's Ruling in Lacewell v. OCC Could Change the Future of Fintech Regulation

Despite often operating on a nationwide scale, fintech companies rarely meet the stringent requirements for obtaining a national banking charter....

State vs. Federal Clash Over National “Fintech Charter” Set For 2020 Appellate Showdown?

State vs. Federal Clash Over National “Fintech Charter” Set For 2020 Appellate Showdown?

A recent trial court decision on the OCC's authority to charter as national banks fintech entities that don't accept deposits has significant implications for the dual banking system and ...

FinTechs Wary Of US Bank Charter Plan

FinTechs Wary Of US Bank Charter Plan

Despite having the chance to apply for banking licenses with the Office of the Comptroller of the Currency, many online lenders are proceeding with caution. According to Reuters, the OCC ...

US Federal Banking Regulator Announces Decision to Accept Applications for National Fintech Banking Charters

US Federal Banking Regulator Announces Decision to Accept Applications for National Fintech Banking Charters

On July 31, 2018, the Office of the Comptroller of the Currency (“OCC”) announced that it would begin accepting applications for national bank charters from Fintech entities that are ...

State bank regulators sue feds over bank charter for 'fintech' firms

State bank regulators sue feds over bank charter for 'fintech' firms

State bank regulators are suing a federal counterpart over a provision aimed at defining banking in the Internet age.

After Years of Debate, Avant May be the First to Receive an OCC Fintech Charter

After Years of Debate, Avant May be the First to Receive an OCC Fintech Charter

Online lender Avant is said to be in 'late-stage discussions' concerning the approval of an Office of Comptroller of the Currency (OCC) Fintech charter. The news was apparently revealed on ...

Federal judge rules against OCC in fintech regulatory lawsuit by NYS

Federal judge rules against OCC in fintech regulatory lawsuit by NYS

A U.S. District Court judge ruled that the Office of the Comptroller of the Currency lacks the authority to grant nationwide bank charters to fintechs, striking a major blow against the ...