On March 15, 2017, the OCC released the Comptroller’s Licensing Manual Draft Supplement: Evaluating Charter Applications From Financial Technology Companies describing its approach to evaluating national bank charter applications from financial technology (fintech) companies engaged in the business of banking and its approach to supervising fintech companies chartered as national banks. The Supplement complements existing policy and guidance related to chartering (PDF), supervising, and resolving national banks. The Supplement was informed by comments received on the agency’s December 2016 paper discussing issues associated with chartering special purpose national banks. The OCC is soliciting comment on the draft Supplement for 30 days.
On December 2, 2016, the Comptroller of the Currency announced intent to make special purpose national bank charters available to financial technology companies. The agency published a paper discussing issues related to chartering special purpose national banks and solicited public comment to help inform its path forward.