OCC to Accept Special Purpose National Bank Charter Applications for Fintech Companies

In this article, Rimon Partner, John Mussman, reviews the July 31 Comptroller of the Currency announcement that it would begin accepting special purpose national bank charters for fintech companies.  The special purpose charter will offer a fintech company that engages in electronic banking or lending activities a national platform — subject to OCC supervision.  States have already announced opposition to  the OCC’s initiative.  Click here to view the article.

John Mussman is a leading banking and financial services lawyer. He represents banks, mortgage lenders, and other financial services providers, focusing on banking and commercial and consumer credit law. He also represents bank affiliates and non-bank players in the commercial and consumer credit space. Read more about Mr. Mussman here.