News Topic: OCC

In trying to defend the fintech charter from attacks on the left, Comptroller Thomas Curry wound up frustrating the GOP. ... Read full article

Thomas Vartanian, a corporate lawyer and former regulator, is a noted critic of the Dodd-Frank Act who is reportedly being considered for a key spot in the Trump administration. ... Read full article

House Republicans' concern with the Office of the Comptroller of the Currency's fintech charter signals growing lawmaker resistance to the plan, which was already opposed by two prominent Senate Democrats earlier this year. ... Read full article

Comptroller of the Currency Thomas Curry defended plans to offer a nonbank charter to fintech firms, disputing, among other things, arguments that his agency lacks the legal authority to do so. ... Read full article

A broad range of industry players are panning an October proposal by bank regulators that would impose new cybersecurity requirements on big banks, arguing it will only slow them down. ... Read full article

Merchants was accused by the Treasury Department's Financial Crimes Enforcement Network of failing to properly monitor money services businesses that had ownership ties with bank insiders. ... Read full article

Though backward-looking, the exam restricts the company from buying banks or opening branches outside the Northeast. ... Read full article

The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license. ... Read full article

Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached. ... Read full article

Jan Owen, California's commissioner of business oversight, on Tuesday invited representatives of 13 fintech companies to a "frank, constructive dialogue" on the obstacles they face with state licenses. ... Read full article

If offering a national regulation option to fintech players is the carrot, compliance with commonsense borrower protections could be the stick in promoting responsible financial innovation. ... Read full article

Critics fear a large player obtaining a charter could quickly be seen as systemically important to the economy, while supporters argue there will be safeguards in place. ... Read full article

The proposed charter for fintech firms — and what requirements should come with it — is rapidly becoming a massive battle that pits state regulators, consumer protection groups and even some banks against a broad assortment of fintech firms and financial ... Read full article

Guest host Sam Maule chats with American Banker reporter Lalita Clozel and others about the OCC fintech charter, smart home devices, virtual assistants, the security and compliance issues posed by Alexa, and more. ... Read full article

The financial services industry has high hopes that President Trump will usher in a new era of less regulation and economic growth. Here are challenges his administration will face. ... Read full article

The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter. ... Read full article

The Office of the Comptroller of the Currency could make the Community Reinvestment Act’s spirit relevant in a digital age so long as it builds the right framework for chartered fintech companies. ... Read full article

Critics say the Office of the Comptroller of the Currency is moving too far and too fast in its effort to offer a fintech charter, overlooking skepticism that it lacks sufficient legal authority. ... Read full article