Licenses and charters

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.

Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks.

Recent comments from the chairman of the National Credit Union Administration signal the agency may soon take a lighter touch with small institution

Organizers of the credit union believe there is a funding gap in the state for agriculture and want to fill the void.

State regulators have once again sued the OCC, arguing it lacks legal authority to offer a federal fintech banking charter.

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.

Colin Walsh, Varo Money's CEO, learned a lot from his first stab at deposit insurance. Lesson one: Work with one regulator at a time.

The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.

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.

Bullish update by the accomplished Citi CFO boosts shares; credit bureau may have been distracted by prior incident.

Industry experts weigh in on potential pros and cons of the new fintech charter and how it might ultimately impact credit unions.

The National Credit Union Administration’s only newly chartered credit union so far this year hopes to reach a highly unique target membership.

Everest Federal Credit Union will serve the approximately 15,000 members of the Non-Resident Nepalis National Coordination Council of USA.

Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.

A week after the Treasury Department laid out a plan for federal fintech regulation, it is already unclear which agency is leading the charge.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

Fintech firms have the federal option they have long sought, but meeting the agency’s application requirements will not be easy.

The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks.