Licenses and charters

Whether it's the OCC's special-purpose charter, ILCs or some other option, observers see fintechs being able to obtain banking powers.

The agency refuted claims by the Conference of State Bank Supervisors that the OCC was overstepping its authority.

An “emergency merger” with the troubled Progressive Credit Union gives PenFed — already the nation’s third-largest credit union — the ability to welcome any potential member nationwide.

An “emergency merger” with troubled Progressive Credit Union gives PenFed – already the nation’s third-largest credit union – the ability to welcome any potential member nationwide.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

The payments processor was among numerous firms earlier this year to withdraw an ILC charter application over questions about its plan.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

In a speech in Japan, the comptroller of the currency urged overseas institutions to consider a “single regulatory framework” instead of applying to multiple states.

The mutual holding company received regulatory approval to form a limited-purpose commercial bank, allowing it to work around a state law barring mutuals from working with municipalities.

The head of the agency developing the special-purpose federal license said the process is moving forward “independent” of legal challenges mounted by state regulators.