Licenses and charters

FDIC defends right to charter new banks against OCC criticism


After repeated attacks from acting Comptroller of the Currency Keith Noreika, the Federal Deposit Insurance Corp. defended its role in greenlighting prospective bank applicants.


‘Permission to commit legal extortion’: Comments of the week


Readers react to the CFPB’s final arbitration rule, a new potential hurdle for initial coin offerings, a housing finance reform proposal and more.


Why are we still separating banking and commerce?


It is only a matter of time before bankers and policymakers realize that the concept keeping banks and non-financial entities apart no longer has any underlying support.


Citi ready to turn the page; oversight for ICOs?


Citigroup hopes to return $60 billion to shareholders by 2020 while earning $20 billion a year; SEC says companies that raise money by selling their own electronic tokens for cryptocurrencies may be subject to federal oversight.


A quick guide to what’s at stake in the SoFi charter controversy


Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.


‘New York doesn’t allow that’: Maria Vullo stares down fintechs, OCC


While some policymakers are open to accommodating fintech companies with looser oversight compared to banks, the New York State superintendent is unapologetic about her tough approach.


The credit union for people who breathe air: Comments of the week


Readers slam credit unions’ ever-inclusive membership criteria, weigh in on the OCC’s proposed fintech charter, encourage a rewrite of the CRA, and more.


Why OCC fintech charter may have life under new leader


Observers see recent comments by acting Comptroller of the Currency Keith Noreika as a sign that the agency may plow ahead on its policy for fintech firms.


Interim OCC chief should put fintech charter on ice


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.


Why some states are losing more banks than others


Arizona, Nevada, Florida and North Carolina have lost more banks than other states, based on the percentage decline since 2010. Each has a unique set of reasons that goes beyond regulation and a dearth of de novo activity.