Licenses and charters

Square to make another bid for bank charter

12/19/18

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

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How regulators besides the OCC can help fintechs

12/17/18

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.

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

11/14/18

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.

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

11/13/18

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.

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Fintechs interested in OCC charter despite lawsuits: Otting

11/07/18

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.

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FDIC chief adds dose of caution about nontraditional bank owners

11/01/18

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.

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State regulators refile suit to block OCC's fintech charter

10/25/18

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

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Floodgates open? De novo applications surge at FDIC

10/03/18

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.

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Why this fintech pulled its FDIC charter application

09/27/18

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.

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

09/18/18

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.

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