Licenses and charters

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.

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply.

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

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply.

The Cincinnati bank applied in May to convert its Ohio state charter amid an expansion into Texas and Colorado and the completion of its merger with MB Financial.

With no fintech applicant officially seeking the agency’s specialized charter, Judge Dabney Friedrich said claims by the Conference of State Bank Supervisors still were not ripe.

Nearly three years after NCUA passed the rule, credit unions are ready to broaden their reach, but the possibility of an appeal to the Supreme Court may put those efforts on hold.

Groups seeking to open a new institution will submit preliminary information for review by the National Credit Union Administration.

The industry trade group said Rakuten's nonfinancial activities raise questions about its pursuit of a banking charter.

Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

Speaking during an event on Wednesday, Hood touched upon charter expansions, regulatory relief and the industry's tax-exempt status.

It's admirable that the National Credit Union Administration wants to make opening a de novo easier but organizers will still face challenges in raising the necessary funds to launch a new credit union.

During its monthly meeting, the National Credit Union Administration board also approved a proposal to increase CU access to non-member deposits, a move bankers are already railing against.

Otoe-Missouria Federal Credit Union in Red Rock, Okla., was designated as a low-income institution.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.

A recent court decision allowing New York’s financial regulator to proceed in a case meant to block the Office of the Comptroller of the Currency from offering fintechs a new federal banking charter is having a chilling effect on potential applicants.