OCC Sued Over Fintech Firm Bank Charter Plan

The Conference of State Bank Supervisors claim the OCC has gone beyond its legal authority to determine what defines a bank.

A lawsuit document

State bank supervisors have filed suit against the OCC and its plans to offer special purpose bank charters to financial technology firms.The Conference of State Bank Supervisors (CSBS) is seeking to prevent the OCC from moving forward with its chartering plans.

John Ryan, CSBS president and CEO, said the OCC’s move to charter financial technology firms may harm markets and consumers, and even hamper innovation.

“The OCC’s action is an unprecedented, unlawful expansion of the chartering

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: