Battle lines are drawn; OCC debates charters for FinTech firms
FinTech firms could be chartered as special-purpose national banks under a proposal being developed by the OCC. The plan, however, writes Joe Mont, could be challenging for firms and has unleashed a flurry of criticism.
Related articles
-
Article
The future of FinTech may involve unified regulation
Many FinTech firms concede that regulation may provide a needed imprint of safety and security. A new plan calls for a singular regulatory point of contact.
-
Article
FinTech takes a great leap forward
The Office of the Comptroller of the Currency has outlined, in greater detail, what it will take for FinTech firms to be chartered as national banks.
-
News BriefFederal Reserve Board drops reputational risk from exams, aligning with OCC and FDIC shift
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.