Licenses and charters

Banking charter remains a long way off for fintechs after court ruling

10/22/19

A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller Currency’s special-purpose charter.

[more]

High-cost lenders already seeking ways around crackdown in California

10/15/19

A law signed last week by Democratic Gov. Gavin Newsom caps interest rates on installment loans. But three large lenders are looking to avoid its restrictions by partnering with banks.

[more]

State regulators propose draft language for multistate licensing

10/10/19

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

[more]

Where banking-fintech partnerships fall short

09/18/19

Fintechs that simply offer cosmetic upgrades to the cumbersome American banking system won't survive.

[more]

OCC can't claim victory despite dismissal of fintech charter suit

09/16/19

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply.

[more]

OCC approves Fifth Third’s conversion to national bank

09/10/19

The Cincinnati bank applied in May to convert its Ohio state charter amid an expansion into Texas and Colorado and the completion of its merger with MB Financial.

[more]

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

09/04/19

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.

[more]

ABA voices 'serious concerns' about e-commerce firm's ILC bid

07/26/19

The industry trade group said Rakuten's non-financial activities raise questions about its pursuit of a banking charter.

[more]

Latest to seek ILC charter is Japanese e-commerce firm

07/26/19

Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.

[more]

State regulators expand multistate licensing process for fintechs

06/24/19

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

[more]