OCC

The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter.

The Office of the Comptroller of the Currency could make the Community Reinvestment Act’s spirit relevant in a digital age so long as it builds the right framework for chartered fintech companies.

Critics say the Office of the Comptroller of the Currency is moving too far and too fast in its effort to offer a fintech charter, overlooking skepticism that it lacks sufficient legal authority.

Consumer protection groups opposing the Office of the Comptroller of the Currency’s plan to offer limited-purpose bank charters to fintech companies raised concerns that the move could allow payday lenders to operate nationally.

Mnuchin to divest; fintech firms may be able to get bank charters

Documents from Massachusetts complicate the narrative that marijuana businesses either can’t get bank accounts or are only being served by small institutions.

The Office of the Comptroller of the Currency's decision to offer a special-purpose charter for fintech firms may entice more players than expected.

The OCC's limited-purpose fintech charter will separate the healthiest fintech companies from the unhealthy ones — leading fintech one step closer to disrupting the incumbents.

Two influential Democratic senators' surprise objections to the OCC's fintech charter show that the initiative may be more politically fraught than the industry and agency expected.

In a letter Monday to Comptroller Thomas Curry, Sens. Sherrod Brown, D-Ohio, and Jeff Merkley, D-Ore., registered their strong opposition to the concept of the charter, which would allow certain types of fintech companies to avoid state licensing requirements by obtaining a limited-purpose national bank charter.