Are states gaining upper hand in fintech charter battle?


With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.


Congress can work around court’s nixing of OCC fintech 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.


Rate cap relief from FDIC doesn't go far enough, banks say


A proposal to revise how the agency calculates the restrictions for less than well-capitalized banks relies on faulty methodology and ignores competition from fintechs and credit unions, according to the industry.


As federal fintech regulatory plans founder, a push for alternatives


Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.


State regulators propose draft language for multistate licensing


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


One community banker's plan to reach the underbanked


Julieann Thurlow says Reading Cooperative Bank in Massachusetts is well positioned to help immigrants and millennials. Technology is crucial to serving both groups, she says.


Funding costs top small banks’ list of concerns


More community bankers now say that cost of funds, not regulatory expense, poses the biggest threat to profits, according to a new survey.


Judge tosses out state regulators’ challenge of OCC charter a second time


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.


State regulators are critical to fintech oversight


The argument that only the federal government is up to the task is misguided.


Are states up to the task of regulating Facebook?


Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.