NYDFS

Federal and state regulators are at odds over the Office of the Comptroller of the Currency’s new licensing program, but there are ways to improve current law to appease both sides.

Craig Phillips, a counselor to Treasury Secretary Steven Mnuchin, said the department is not trying to undermine the role of state regulation of fintechs.

State regulators are planning to sue the agency over its special-purpose charter, but the charter would be an important step forward for the regulatory system.

State regulators are planning to sue the agency over its special-purpose charter, but the charter would be an important step forward for the regulatory system.

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition.

The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications.

State regulators said Wednesday they will refile a lawsuit against the OCC, attempting to block the agency's new federal bank charter for fintechs.

If Gov. Jerry Brown signs the legislation headed to his desk, it would be the first law of its kind in the U.S. It is designed to allow small-business owners to make comparisons between offers in the often bewildering world of online business lending.

As the state phases in tougher requirements from its 2017 regulation, federal agencies continue to show an interest in updating their cyber policies.