Licenses and charters

Simpler is better for fintechs breaking into banking

02/20/20

LendingClub and Varo Money are making inroads into the traditional financial system, but other fintechs still face long odds.

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The API race, CFPB vs. Citizens, Varo's bank charter: Top stories of the week

02/14/20

Wells Fargo appears to be outpacing its rivals in the API race; CFPB's unexpected showdown with Citizens; Varo gets vital FDIC OK for bank charter; and more from this week's most-read stories.

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Banks need to do more than just complain about credit unions

02/14/20

The entire banking industry needs to join the fight instead of waiting for Congress to act.

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FDIC aims to smooth de novo process for nontraditional firms

02/10/20

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

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FDIC aims to smooth de novo process for nontraditional firms

02/10/20

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

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Are states gaining upper hand in fintech charter battle?

12/30/19

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.

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OCC files appeal in fintech charter case

12/19/19

In October, U.S. District Judge Victor Marrero ruled against the OCC in a case brought by the New York State Department of Financial Services.

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Is Congress spoiling for another fight over ILCs?

12/10/19

The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.

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Regulators ease hemp banking rules; alternative credit checks get the nod

12/04/19

Banks will not have to file reports on customers just because they're in the hemp business; making it easier for people with no credit history to get loans.

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Robinhood to pull application for national bank charter

11/27/19

The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank.

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