Office of the Comptroller of the Currency

48 results about this entity

Period: 20 Mar 2006 - 20 Dec 2023

State regulators refile lawsuit over OCC fintech charter plans

US state financial regulators are to renew their litigation efforts over the recent decision by the Office of the Comptroller of the Currency to create a special purpose charter for financial technology firms.

OCC to host 'innovation office hours'

Hot on the heels of its decision to start accepting fintech charter applications, the Office of the Comptroller of the Currency (OCC) is reaching out to the industry, inviting interested parties to come in to its New York offices for a chat during 'innovation office hours'.

Circle looks to become licensed bank; Coinbase acquires broker-dealer

Cryptocurrency platform Circle Internet Financial is bidding to enter the Wall Street mainstream, seeking a federal banking license and SEC registration as a brokerage and trading venue.

US states team up to streamline fintech licensing

Bank regulators in seven US states have agreed to standardise parts of the licensing process for money service businesses (MSBs) in a bid to make it easier for fintech startups to operate across the country.

Otting sworn in as US Comptroller of the Currency

Joseph M. Otting today became the 31st Comptroller of the Currency, after being sworn into office by Secretary of the Treasury Steven T. Mnuchin and being confirmed by the U.S. Senate on November 16, 2017.

Bank of Amazon? US regulator calls for rethink on separation of banking and commerce

A senior US regulator has floated the possibility of ending the long-standing separation of banking and commerce, paving the way for the likes of Amazon, Facebook and Walmart to take on Bank of America, Wells Fargo, Citi et al.

Acting OCC head Noreika stirs fintech charter debate

The new head of the US Office of the Comptroller of the Currency (OCC) has come out fighting in defence of his predecessor's plans to grant special-purpose bank charters to fintech firms, defying pending litigation from state regulators.

OCC warns banks on fintech risks

US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.

OCC issues guidance for banks as US prepares for T+2

The OCC expects that as of the T+2 compliance date, in accordance with industry standards and applicable securities and self-regulatory organizations’ rules for securities clearance and settlement, banks will not effect or enter into a contract for the purchase or sale of an affected security that provides for payment of funds or delivery of securities later than the second business day after the date of the contract, unless otherwise expressly agreed to by the parties at the time of the transaction.

OCC fintech charter plans in jeopardy as Curry departs

Proposals by the US Office of the Comptroller of the Currency to issue special purpose banking charters to fintech firms are up in the air following the departure of leading advocate Thomas Curry and his replacement as acting head of the Federal agency by Simpson Thacher & Bartlett partner Keith Noreika

State regulators sue OCC over fintech charter plans

US state regulators have filed a lawsuit against the Office of the Comptroller of the Currency, upping the ante in an increasingly bitter dispute over the federal agency's plans to offer bank charter status to qualifying fintech firms.

NYDFS steps up war of words with OCC over fintech charter plans

New York's State Department of Financial Services (NYDFS) has re-ignited its war of words with the Office of the Comptroller of the Currency (OCC) over plans to offer bank charter status to qualifying fintech firms.

OCC issues draft revision to Licensing Manual for fintechs seeking bank charter status

The Office of the Comptroller of the Currency (OCC) today provided additional detail on evaluating national bank charter applications from financial technology (fintech) companies that engage in the business of banking.

Comptroller Curry hits back at critics of fintech charter plans

Comptroller of the Currency Thomas Curry says the oversight body will persist with plans to offer banking charters to fintech companies, dismissing criticisms that the agency is over-reaching its authority.

New York regulator blasts OCC over bank charter plan for fintech firms

A turf war is brewing between US state and federal regulators over oversight of the financial technology sector after New York's top watchdog sent a stinging letter to the Office of the Comptroller of the Currency (OCC), telling it to back off plans for a national bank charter for fintech firms.

US regulator cites fintech as risk to banking system

Emerging financial technology poses a threat to US banks that are unable to compete with this developing field, according to an official report from the US Office of the Comptroller of the Currency (OCC).

OCC to offer fintech firms bank charter status

The US Office of the Comptroller of the Currency (OCC) is to begin accepting applications from fintech companies to become special-purpose national banks.

OCC sets up fintech innovation office

A top US regulatory body, the Office of the Comptroller of the Currency (OCC), is to set up a dedicated innovation office to "identify, understand, and respond" to the changing banking landscape.

US regulators set out new cybersecurity standards

US regulators have set out plans to strengthen the way they oversee big banks in a bid to protect the country's financial system in the event of a major cyberattack or technology failure.

US regulator considers new framework for fintechs

A key US banking regulator is set to develop a framework for governing new fintech startups, according to the Wall Street Journal (WSJ).