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Innovation Office of the Comptroller of the Currency Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 57: Opening a Path for New Bank Formations

The Klaros Group’s Michele Alt joins Orrick partners Jerry Buckley, Caroline Stapleton and Walt Zalenski to explore actions needed to facilitate new bank formations, which have slowed to trickle in recent years. The...more

BCLP

Vetting FinTechs as Business Risk Partners: OCC Bulletin

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Innovation is a key to competitive advantage and keeping pace with consumer digital banking preferences. Increasingly, banks are engaging the services of fintech’s who can deliver certain information and services in a more...more

Goodwin

Financial Services Weekly Roundup: The OCC Proposes New Rulemaking And Changes To Address Innovation And Consumer Needs

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In This Issue. The Office of the Comptroller of the Currency (OCC) released an advanced notice of proposed rulemaking seeking comments on several issues related to digital technology and innovation, as well as proposed...more

Ballard Spahr LLP

OCC report highlights risks arising from innovation and nonbank competition

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The OCC’s Semiannual Risk Perspective report focuses on key issues that pose threats to bank safety and soundness and legal compliance.  Among such issues discussed in the Spring 2019 report, which generally reflects bank...more

Ballard Spahr LLP

OCC wants its supervised financial institutions to play in a sandbox, too! But is it worth it?

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The Office of the Comptroller of the Currency (OCC) has opened its own “sandbox” through a Proposed Innovation Pilot Program (Program) designed to promote its innovation initiatives, add value through proactive supervision,...more

Davis Wright Tremaine LLP

State of Regulation: Focus on FinTech

On Thursday, November 8, DWT FinTech team co-leader Andy Lorentz took part in the Commerce.Innovated Class 8 Demo Day in New York City. Andy led a discussion on legal developments in FinTech, with a focus on federal...more

Clark Hill PLC

Innovation: Opening the Door for Regulatory Engagement

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Since Donald Trump took office the hot topic has been “deregulation”. However, contradicting this ideal are efforts by financial regulators to incorporate the use of financial technology by financial institutions and fintech...more

Kilpatrick

FDIC Becomes the Latest Federal Agency to Create an Office of Innovation; Seeks to Encourage Banks to Embrace Technological...

Kilpatrick on

Press reports indicated that Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams recently announced at an American Bankers Association conference that the FDIC is setting up an Office of Innovation to...more

Clark Hill PLC

Despite a Legal Setback - States Continue to Move Forward in Fintech Innovation

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For more than two years, the Office of the Comptroller of the Currency (“OCC”) has studied the regulatory impacts of innovations in financial technology. In March, 2016 it published a white paper regarding innovation in the...more

Troutman Pepper Locke

New OCC Bulletin on Third-Party Oversight Highlights Fintech Relationships

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On June 7, the Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2017-21 (Frequently Asked Questions to Supplement Bulletin 2013-29; Third-Party Relationships: Risk Management Guidance). This is the OCC’s...more

Ballard Spahr LLP

OCC Office of Innovation to host July office hours in NYC

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The OCC announced that its Office of Innovation will host office hours for national banks, federal savings associations, and financial technology (fintech) companies from July 24 through July 26, 2017 at the OCC’s district...more

Troutman Pepper Locke

OCC's Proposed Licensing Guidelines Treat Fintech Charters Like Any Other National Bank

Troutman Pepper Locke on

A fintech company considering a national bank charter will need to consider whether committing to a multi-year business plan is feasible in an industry that is constantly evolving, and in which the ability to respond quickly...more

Orrick, Herrington & Sutcliffe LLP

Comptroller of the Currency Tom Curry Discusses Fintech Charters

In his remarks at the LendIt Conference in New York, Comptroller of the Currency Tom Curry discussed the special purpose national bank charters to be granted by the OCC to fintech companies and addressed the various...more

Polsinelli

A Potentially Promising Approach to Regulation of FinTech or Should the U.S. Adopt a Regulatory Sandbox?

Polsinelli on

The Office of the Comptroller of the Currency (“OCC”) recently published a proposal to bring emerging financial technology (“FinTech”) companies within the scope of the agency’s jurisdiction. The proposal is useful as part of...more

Carlton Fields

SEC and OCC Seek Accommodation with Fintech Firms

Carlton Fields on

In November, industry participants and their regulators convened at the SEC for a special forum on the use of financial technology (fintech). In recent years, large amounts have been invested in fintech platforms such as...more

Ballard Spahr LLP

Innovation versus consumer protection: emerging battle lines

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The announcement by the Office of Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire...more

Orrick, Herrington & Sutcliffe LLP

National Bank Charters for Fintech Companies

"Technology-based products and services are the future of banking and the economy." "What excites me most about the changes occurring in financial services is the great potential to expand financial inclusion, reach...more

Troutman Pepper Locke

OCC Moves Forward With Special Purpose Fintech Charter

Troutman Pepper Locke on

On December 2nd at the Georgetown University Law Center Comptroller of the Currency Thomas J. Curry announced that the OCC had made the determination to consider applications for special purpose national bank charters filed...more

Davis Wright Tremaine LLP

Regulators and Innovation – an Update on Key Developments

Innovation in the delivery of financial products and services continues at a rapid rate. We discuss below some recent developments at the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency...more

Goodwin

OCC to Create New “Office of Innovation”

Goodwin on

At the end of October, the Office of the Comptroller of the Currency (“OCC”) released its Recommendations and Decisions for Implementing a Responsible Innovation Framework (the “Recommendations”). The Recommendations are the...more

Ballard Spahr LLP

Congressman introduces fintech bill

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Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more

Latham & Watkins LLP

How to Regulate New Financial Technologies While Supporting Innovation

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Office of the Comptroller of Currency publishes proposed framework for responsible innovation in federal banking. The Office of the Comptroller of Currency (the OCC or the Agency) recently published a whitepaper,...more

Bilzin Sumberg

Lenders & FinTech Companies Now Have an Opportunity to Shape Federal Regulation of FinTech

Bilzin Sumberg on

On March 31, 2016, the Office of the Comptroller of the Currency (“OCC”) issued its much anticipated white paper on the role of financial technology (“FinTech”) in the financial services industry. The paper, titled Supporting...more

Baker Donelson

OCC Issues White Paper on "Responsible Innovation"

Baker Donelson on

On March 31, 2016, the Office of the Comptroller of the Currency (OCC) issued a white paper on the growing intersection between financial services and technology. The OCC stated that "[w]hile banks continue to innovate, rapid...more

Ballard Spahr LLP

OCC White Paper Promotes Framework for Supporting Responsible Innovation

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Following the trend of federal agency interest in fostering (and potentially regulating) innovation in the field of financial technology (FinTech), the Office of the Comptroller of the Currency (OCC) released the white paper...more

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