Posted To: Pipeline Press
Many years ago, it was a joke in Britain to say that, "the War Office was always preparing for the last war." To their credit, regulators now often try to consider the future, rightly or wrongly. Last week the Comptroller of the Currency's Thomas Curry confirmed that the OCC will begin considering applications from Fintech companies to become special purpose national banks, saying that the OCC will charter "financial technology companies that offer bank products and services and meet our high standards and chartering requirements." The move opens the door to the more than 4,000 fintech companies to get a special purpose national bank charter , but would not allow such entities to accept FDIC insured deposits without separate approval. The OCC simultaneously released...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2hc7CfV
No comments:
Post a Comment