Client Alert

Acting Comptroller Endorses Fintech Charters

20 Jul 2017

In July 19, 2017 remarks prepared for delivery to the Exchequer Club in Washington, D.C., Acting Comptroller of the Currency Keith Noreika expressed his support for the Office of the Comptroller of the Currency’s efforts to establish national bank charters for financial technology companies. In endorsing the OCC’s so-called fintech charter, he noted that the business of banking has evolved and stated that the OCC’s approach to innovation brings fintech companies “out of the shadows and into a well-established supervisory and regulatory regime that will promote their safety and soundness.”

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