New Office of the Comptroller of the Currency Fintech Regulation: Ensuring a Successful Special Purpose National Bank Charter Application
Financial technology (fintech) companies evaluating whether to apply for an OCC Special Purpose National Bank (SPNB) charter must consider a variety of factors. Among them are the regulatory and compliance requirements they will need to adhere to; the work involved in applying for the charter and transitioning to full conformance; the challenges (and opportunities) associated with competing against traditional banks; and the strategic and operational changes that may be required down the road to align with the OCC’s expectations on an ongoing basis.
Keywordsfintech fintech regulation OCC Capital planning/funding Enterprise risk management Liquidity/funds management Risk assessment Stress scenarios
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