Licenses and charters

The Bakersfield, Calif.-based institution has applied to convert to a state charter.

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups.

Sen. John Kennedy, R-La., has proposed a bill to bar companies such as Rakuten from using industrial loan companies to access the banking system.

The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.

A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller of the Currency’s special-purpose charter.

The Gainesville, Fla.-based institution has a new TIP charter granting membership privileges throughout Florida, but no new branches are currently planned.

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

The Conference of State Bank Supervisors has proposed creating model payments legislation that states could adopt to improve the state-by-state licensing process.

Frustrated after being overlooked by mainstream financial institutions, organizers of the proposed Pagan Federal Credit Union are hoping to be chartered by the end of the year.

Fintechs that simply offer cosmetic upgrades to the cumbersome American banking system won't survive.