Licenses and charters

Square to make another bid for bank charter


The payments processor was among numerous firms earlier this year to withdraw an ILC charter application over questions about its plan.


How regulators besides the OCC can help fintechs


The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.


Otting touts OCC to foreign banks seeking U.S. presence


In a speech in Japan, the comptroller of the currency urged overseas institutions to consider a “single regulatory framework” instead of applying to multiple states.


Seneca-Cayuga Bancorp in N.Y. set to accept municipal deposits


The mutual holding company received regulatory approval to form a limited-purpose commercial bank, allowing it to work around a state law barring mutuals from working with municipalities.


Fintechs interested in OCC charter despite lawsuits: Otting


The head of the agency developing the special-purpose federal license said the process is moving forward “independent” of legal challenges mounted by state regulators.


FDIC chief adds dose of caution about nontraditional bank owners


Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks.


State regulators refile suit to block OCC's fintech charter


State regulators have once again sued the OCC, arguing it lacks legal authority to offer a federal fintech banking charter.


Floodgates open? De novo applications surge at FDIC


Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution.


Why this fintech pulled its FDIC charter application


Colin Walsh, Varo Money's CEO, learned a lot from his first stab at deposit insurance. Lesson one: Work with one regulator at a time.


Fed will have the say on key parts of OCC’s fintech charter


The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.