Licenses and charters

Streamline application process to spur new banks: OCC’s Noreika

10/31/17

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.

[more]

Fears of commercially owned banks are unfounded: OCC's Noreika

10/19/17

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

[more]

Lawmakers stay clear of ILC charter debate … for now

09/13/17

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

[more]

De novo capital requirements are a 'sin tax': Petrou

08/16/17

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.

[more]

FDIC defends right to charter new banks against OCC criticism

08/04/17

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

[more]

‘Permission to commit legal extortion’: Comments of the week

07/28/17

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

[more]

Why are we still separating banking and commerce?

07/27/17

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.

[more]

Citi ready to turn the page; oversight for ICOs?

07/26/17

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.

[more]

A quick guide to what’s at stake in the SoFi charter controversy

07/25/17

Social Finance’s application for an industrial loan charter has not only drawn opposition from a coalition of incumbent banks and community activists, it also serves as a microcosm of several perennial debates in financial services policy.

[more]

‘New York doesn’t allow that’: Maria Vullo stares down fintechs, OCC

07/14/17

While some policymakers are open to accommodating fintech companies with looser oversight compared to banks, the New York State superintendent is unapologetic about her tough approach.

[more]