- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
FinTech firms could be chartered as special-purpose national banks under a proposal being developed by the OCC. The plan, however, writes Joe Mont, could be challenging for firms and has unleashed a flurry of criticism.
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Many FinTech firms concede that regulation may provide a needed imprint of safety and security. A new plan calls for a singular regulatory point of contact.
The Office of the Comptroller of the Currency has outlined, in greater detail, what it will take for FinTech firms to be chartered as national banks.
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
