Despite concerns raised by Democratic senators, the Office of the Comptroller of the Currency is moving ahead with plans to issue charters to qualified fintech companies.
"We will be issuing charters to fintech companies engaged in the business of banking because it is good for consumers, businesses, and the federal banking system," Comptroller Thomas Curry said in a speech Monday at the LendIt USA 2017, a fintech conference in New York.
Curry announced in October that the OCC would be developing guidelines for companies that wanted to receive the new charter. The agency solicited comments, and more than 100 people responded, he said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
