The Office of the Comptroller of the Currency’s fintech charter could provide a workaround to a Dodd-Frank Act provision that slashed preemption for operating subsidiaries/
The acquirer of the failed Guaranty Bank took a pass on the latter’s 107 in-store branches, leading to their shutdown and a disruption in service for many low-income customers.
Repealing or modifying regulators’ authority to take over failing banks may actually increase the risk of taxpayer-funded bailouts, said former Federal Reserve Board Gov. Daniel Tarullo.
Despite major fanfare about new challenger institutions or digital-only bank brands, technology and revenue difficulties are among the factors threatening their ability to adapt and grow.
The top executives at Guaranty Bank said that, after years of struggles, the $1 billion-asset bank was a month or two away from raising the capital it needed to survive.
