Curry Discusses Potential Fintech Charter

The OCC will hold chartered fintech-related nonbanks to the “same high standards” that banks are expected to meet if the agency eventually decides to grant them a charter, Comptroller of the Currency Thomas Curry said last week. He added that the agency would issue a paper “soon” outlining its thoughts on the subject and inviting public comment. 

“If the OCC decides to grant a national charter in this area, the institution will be held to the same high standards of safety, soundness, and fairness that other federally chartered institutions must meet,” he said during a speech in London. “Having a national charter has tremendous value, and because of that it carries certain responsibilities.”