With Fintech Charter on Hold, OCC Wants More Dialogue With Firms

A proposed national charter for fintech companies remains in limbo while new Comptroller of the Currency Joseph Otting gets up to speed on agency matters, a senior official said Nov. 29.

Otting took over Nov. 27 at the Office of the Comptroller of the Currency (OCC). His views on a bank-like charter for fintech lenders are an enigma to the industry and in Washington policy circles.

A special purpose charter for fintechs “is currently on hold,” but there are other types of charters that might suit certain fintech business models, OCC Chief Innovation Officer Beth Knickerbocker said at the RegTech ...