Jarrett Hale speaks with Bloomberg BNA’s Banking Daily on the Office of the Comptroller of Currency upcoming position for fintech charters and explains that OCC is likely to bring fintech firms, “under its regulatory umbrella to maintain competitive balance across the financial services industry.” Jarrett cautions the legal challenges to come when OCC makes a decision and warns that the “the line is becoming increasingly difficult to draw between ‘fintech’ and ‘traditional financial institutions’ — both in lending practices and in technical functionality — which seems to favor arguments in favor of the OCC's authority when and if they do move to allow the charters.”

Read Bank Regulator Readies Stance on National Fintech Charters, Bloomberg BNA’s Banking Daily, April 9, 2018. (Subscription)