Insights & Publications
Diversity & Inclusion
© 2020 Debevoise & Plimpton LLP
OCC Greenlights Special FinTech Bank Charter
5 December 2016
View Client Update
On Friday, December 2, 2016, the OCC announced its intention to grant special purpose national bank charters to FinTech firms and issued a paper requesting further input from industry.
The OCC indicated that its authority was sufficient to take a flexible and tailored approach to FinTech firms that engage in bank-eligible activities, including deposits, payments and lending activities.
As with other national banks, newly-chartered institutions will be subject to capital and liquidity requirements and expected to comply with prudential and consumer laws and regulations.
David L. Portilla
UK Modern Slavery Act Transparency Statement
Debevoise Women's Review