State Regulators Sue OCC Over Fintech Charter


The Conference of State Bank Supervisors yesterday sued the Office of the Comptroller of the Currency over the agency’s plan to issue special-purpose national bank charters to fintech firms, American Banker reported. “Citing the National Bank Act, the bank supervisor group argued that the OCC has the authority to charter only those firms engaged in…

OCC to Focus on Ongoing Monitoring of Third-Parties; Contract Fulfillment Important


“Regulatory staff from the Federal Reserve, the FDIC and the Office of the Comptroller of the Currency shared their observations and previewed forthcoming regulatory updates on third-party risk management during a meeting with American Bankers Association member bankers in Washington, D.C., this week,” according to the ABA Banking Journal. “The OCC said that its examiners…