Licenses and charters

Credit union group wins special purpose bank charter in Michigan


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.


‘We were willing to shock historical norms’: Otting on OCC’s makeover


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.


Fintech charter delayed following court ruling: Otting


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.


N.Y. regulator’s suit to stop fintech charter gets green light


The Office of the Comptroller of the Currency had sought to dismiss the case, but a court ruling suggested that the state regulator’s claim may have merit.


OCC seeks comment on fintech pilot program


The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions.


Robinhood angered banks. Now it wants to be one


The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.


A path forward for public banks?


A bill recently introduced in the California state assembly would create a framework for local governments to set up their own taxpayer-owned banks. It’s more specific than other public-bank proposals, which raised more questions than they answered, but still faces long odds.


Fed, FDIC to hold public meetings on BB&T-SunTrust deal


The Federal Reserve and Federal Deposit Insurance Corp. will hold two public meetings on BB&T's planned purchase of SunTrust to consider the deal's impact on the U.S. banking system


Who will regulate BB&T-SunTrust?


With the two companies said to be still mulling which charter to seek, the various options each have possible advantages and drawbacks.


Former CFPB staffer named Florida's banking commissioner


Ronald Rubin, who was a CFPB enforcement attorney, will head an office overseeing nearly 200 state-chartered banks.