John Ryan on the CSBS OCC Lawsuit

The Conference of State Bank Supervisors (CSBS) is suing the OCC to challenge its plans for a fintech charter; central to the case is the OCC’s authority to grant special purpose bank charters; CSBS President and CEO John Ryan says, “The OCC’s proposed action ignores Congress, seeks to preempt state consumer protection laws, harms markets and innovation, and puts taxpayers at risk of inevitable fintech failures.” Source