Banking Sector, National Bank Act, Consumer Financial Products

OCC Reaffirms that its National Bank Preemption Regulations are Lawful

McGuireWoods LLP on 6/16/2025

On May 8, 2025, the Conference of State Bank Supervisors (“CSBS”) asked the Office of the Comptroller of the Currency (“OCC”) to comply with Executive Orders 14129 and 14267 by reversing its regulations governing national...more

OCC: Fintechs May Now Apply for Bank Charters

Bradley Arant Boult Cummings LLP on 8/2/2018

The Office of the Comptroller of the Currency announced, in a highly anticipated decision, that it would begin to consider special-purpose charter applications from fintech entities. This move, which has been the subject of...more

Critical Question: Inquiry and Analysis on Whether an Uninsured Nationally Chartered Fintech Bank Charter Can Export Interest...

Stinson LLP on 1/9/2018

The Comptroller of the Currency (“OCC”) presented a White Paper in December 2016 on Exploring Special Purpose National Bank Charters for Fintech Companies (“White Paper”). Comptroller Tom Curry noted that he had asked the OCC...more

Bipartisan bill to provide “true lender” fix introduced in House

Ballard Spahr LLP on 12/11/2017

A bipartisan group of five House members introduced a bill (H.R. 4439) last month that is intended to address the so-called “true lender” issue, which creates risk with respect to some loans made by banks with substantial...more

Colorado Moves to Dismiss Suits Seeking Judgment That Bank-Originated Loans Facilitated and Serviced by Online Platforms Are...

Orrick, Herrington & Sutcliffe LLP on 4/28/2017

As we noted in a recent Alert, WebBank and Cross River Bank filed separate federal civil actions to enjoin the Administrator of Colorado's Uniform Consumer Credit Code from enforcing state lending laws against Avant, Inc. and...more

Second Circuit Holds That National Bank Act Preemption Does Not Apply to an Independent, Third-Party Debt Collector That Purchased...

K&L Gates LLP on 6/4/2015

The Second Circuit recently issued a National Bank Act preemption decision with significant implications for purchasers of loans and other debt from national banks. See Madden v. Midland Funding, LLC, --- F.3d ---, 2015 WL...more