Office of the Comptroller of the CurrencyRSS

OCC isn’t ready for fintech charter applications just yet

Office of the Comptroller of the Currency

Acting Comptroller of the Currency Keith Noreika told FinovateFall attendees in New York this week that the agency is still in the exploratory phase of its fintech charter, according to news reports. Paybefore (Banking Technology‘s sister publication) reports that the controversial fintech charter has been welcomed by some in the industry, although there is some […]

OCC report highlights strategic risks from fintech, operational risk from third parties

Office of the Comptroller of the Currency

Strategic, credit, operational and compliance risks remain top concerns for the federal banking system, the US Office of the Comptroller of the Currency (OCC) reports in its Semiannual Risk Perspective for Spring 2017.

Under fire OCC moves forward with US fintech charter plan

Fintech in the US: where is regulation headed?

The US Office of the Comptroller of the Currency (OCC) is moving forward with its plan to enable fintech companies to become special purpose national banks, releasing a report that provides guidance on how to implement the plan and another that summarises public comments about it. The special charter has no shortage of critics, but […]

US Democratic senators oppose OCC fintech proposal

Banks in the US continue to face many risks, the OCC finds

A skirmish over the future of US fintech is underway in the new US Senate, with two Democratic senators this week saying a new federal charter governing the industry “could weaken consumer protections, limit competition and threaten financial stability”, reports Paybefore. Late last year, the Office of the Comptroller of the Currency (OCC) released a […]

US Treasury looks to control innovation

US Department of the Treasury

The US Department of the Treasury has unveiled an “Office of Innovation” as it looks to assert its control on regulations in this fintech space. The Office of the Comptroller of the Currency (OCC), an independent bureau within the Treasury, says it is “making certain that institutions with federal charters have a regulatory framework that […]

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