Comments Mixed on the OCC Fintech Charter

Manatt provides an overview of some of the comments received by the OCC on the proposed fintech charter; the New York Department of Financial Services was critical of the charter; the American Bankers Association is supportive of the charter “…as long as existing rules and oversight are applied consistent with those for any national bank”; the Financial Services Roundtable also spoke in favor of the charter, commending the OCC for its development of the proposal; also highlighted are responses from the Consumer Bankers Association and the Independent Community Bankers of America.  Source