July 19, 2017 – Today Acting Comptroller of the Currency Keith A. Norieka affirmed the Office of the Comptroller of the Currency’s intent to accept fintech charter applications and to support its federal regulatory regime.
The following statement is attributed to Brian Peters, Executive Director of Financial Innovation Now:
“Technology companies and innovators will be heartened by Acting Comptroller Noreika’s remarks today. We commend Acting Comptroller Noreika for signaling the OCC is committed to work towards policies that welcome innovative new entrants in financial services, particularly his affirmation of a national regulatory approach to technology. FIN looks forward to continuing to work with the OCC and the new Administration to promote innovation and competition in financial services.”
Noreika made his remarks today at a luncheon meeting of the Exchecquer Club. The OCC has been working to make the agency and its regulated entities more innovation-friendly since early 2016. The agency recently organized an Office of Innovation and announced its intent in December 2016 to accept non-bank fintech charter applications. FIN’s comments in the OCC process can be viewed here and here.