Acting Comptroller of the Currency Keith Noreika should take some time to assess whether the agency’s fintech charter is developing in a way that best serves the public.
The Trump administration’s formal ouster of Comptroller of the Currency Thomas Curry has set in motion a sea change atop financial regulatory agencies that will likely unfold slowly over the next year.
American Banker's Rob Blackwell and Marc Hochstein discuss the pushback from state regulators and consumer advocates against the OCC's proposed charter; Chris Skinner and Jim Marous hold forth on fintech.
The Conference of State Bank Supervisors has sued the OCC before the agency has finalized the requirements for a fintech charter, fueling speculation state regulators are trying to delay deployment or scare away potential applicants.
The Conference of State Bank Supervisors is suing the Office of the Comptroller of the Currency, arguing it lacks the legal power to create a fintech charter.
Fintech firms, banks, state regulators and consumer protection groups all expressed significant reservations about the Office of the Comptroller of the Currency's latest plan on its fintech charter initiative.
The Conference of State Bank Supervisors announced a raft of measures Tuesday designed to simplify multistate licensing and regulatory oversight for fintechs and other companies registered as money-services businesses.
