News Topic: Licenses and charters

The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry. ... Read full article

Judge Dabney Friedrich ruled that the case could not proceed because the OCC has not actually granted the fintech charter to any firm. ... Read full article

A decision by the Federal Deposit Insurance Corp. — soon to be under new management — on Square’s ILC application could foreshadow how other fintech firms seek banking powers. ... Read full article

Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge. ... Read full article

The House Financial Services Committee held a hearing Tuesday on the fintech industry as Congress is still beginning the conversation about what a legislative approach should look like. ... Read full article

The House Financial Services Committee was expected to approve a bill as early as Wednesday that amends key provisions of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. ... Read full article

The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies. ... Read full article

The most immediate threat to the safeguards underpinning a well-functioning banking sector involves the failure of regulators to hold banks accountable. ... Read full article

Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter. ... Read full article

Acting Comptroller of the Currency Keith Noreika has been the ultimate disruptor, bucking the normally low-key profile of interim regulators. ... Read full article

While increasing de novo activity is encouraging, the processes of chartering a bank and applying for deposit insurance are more onerous, lengthy and costly than they need to be. ... Read full article

Acting Comptroller of the Currency Keith Noreika pushed back against concerns that his agency's proposed fintech charter will unduly benefit nonfinancial firms. ... Read full article

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way. ... Read full article

In the midst of a public feud between federal regulators on the right process for chartering new banks, Federal Financial Analytics argues that regulators should instead focus on loosening capital standards for new industry entrants. ... Read full article

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

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

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. ... Read full article

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. ... Read full article