csbs

CSBS To Oppose OCC Fintech Charter (Again)

By Scott A. Coleman on September 13, 2018

Posted in Federal Agencies, Fintech, OCC, Regulatory and Enforcement

On September 12th, the Conference of State Bank Supervisors (CSBS) announced that it would again pursue litigation in opposition to the OCC’s recent decision to accept applications from non-depository financial technology firms for a special purpose national bank (SPNB) charter.

While it announced that its Board of Directors had approved renewing litigation against the OCC at an August 28 meeting, the CSBS did not indicate when it plans to file the lawsuit. … Continue Reading

OCC moves to dismiss NYDFS lawsuit challenging special purpose national bank charter for fintech companies

By Scott M. Pearson on August 24, 2017

Posted in Federal Agencies, OCC, Regulatory and Enforcement, Technology

The Office of the Comptroller of the Currency (OCC) has filed a motion to dismiss the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to nondepository fintech companies.

The DFS lawsuit, which was filed in May 2017 in a New York federal district court, is similar to the lawsuit filed in April 2017 by the Conference of State Bank Supervisors (CSBS) in D.C.… Continue Reading