March 15, 2017 – Today the OCC released a draft licensing manual for financial technology companies that may wish to pursue a special purpose bank charter. The OCC is accepting comments on the draft manual through April 14th, 2017.
The following statement is attributed to Brian Peters, Executive Director of Financial Innovation Now:
“FIN continues to be positive about the OCC’s ongoing effort to promote technology in financial services through a specialized fintech charter. We hope the announced comment period will offer sufficient time and process to help the OCC get this right for America’s innovators. We look forward to working with the OCC and the new Administration to promote innovation and competition in financial services.”