Michele Alt

Federal banking agencies should disregard a demand by state attorneys general that national banks be instructed to provide investigators with bank records outside of a court proceeding.

A former attorney with the Office of the Comptroller of the Currency asks why regulators have failed to finalize the rules to implement Section 956 of Dodd-Frank, enacted more than a decade ago.

Recent delays may be frustrating, but the Office of the Comptroller of the Currency isn't closing the door on financial technology companies. However, applicants will have to be patient, forthright about their business plans and willing to actively engage any state or federal regulatory agencies that the OCC consults.