Tag Archives: New York DFS

State Regulators Renew OCC Suit Over Fintech Charter

On October 25, 2018, the Conference of State Bank Supervisors (“CSBS”) filed a complaint in the United States District Court for the District of Columbia to stop the Office of the Comptroller of the Currency (“OCC”) from issuing special purpose national bank charters to fintech companies.  The lawsuit follows a similar suit against the OCC by … Continue Reading

NYSDFS Sues to Block the OCC’s Special Purpose National Bank Charters for Fintech Companies

On September 14, 2018, Superintendent of the New York State Department of Financial Services (“NYSDFS”) Maria T. Vullo filed a complaint in federal court against the U.S. Office of the Comptroller of the Currency (“OCC”) to block the OCC from issuing any special purpose national bank (“SPNB”) charters. The OCC announced last month, after much … Continue Reading

State Banking Regulators Oppose OCC Fintech Charter

With this week’s close of the comment period on the December 2016 whitepaper by the Office of the Comptroller of the Currency (“OCC”) regarding special purpose charters for fintech companies, which we discussed in a previous client alert, several key stakeholders have weighed in on the OCC’s plans.  Notably, on January 13, 2017, the Conference … Continue Reading
LexBlog