Consumer Finance Monitor Podcast Episode: Should Congress Create a New Federal Charter for Non-Bank Payments Companies?
According to a recent press release, the issuer of the USDC stablecoin has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency...more
On March 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1183, which is expected to clarify and streamline national banks’ ability to engage in cryptocurrency activities....more
In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more
The OCC granted preliminary conditional approval on April 23 to an application to charter Paxos National Trust (Paxos) as an uninsured national trust bank. Paxos, which currently operates as a New York state-charted limited...more
The US Office of the Comptroller of the Currency (OCC) issued an interpretive letter on July 22 allowing national banks and federal savings associations (FSAs) to provide cryptocurrency custody services to their customers in...more
The New York Department of Financial Services was told by a federal court in New York that it could proceed with its lawsuit challenging plans of the Office of the Comptroller of the Currency to accept and consider...more