New York Judge Creates a Major Roadblock for the OCC Fintech Charter

Yesterday, a New York federal judge ruled that the New York Department of Financial Services (NYDFS) could proceed with two of its three claims against the Office of Comptroller of the Currency (OCC); this is a significant blow to the fintech sector and those companies considering applying for the proposed OCC fintech charter;  the NYDFS had raised concerns about the charter and how it could hurt consumers targeted by predatory lenders; in September the NYDFS had sued the OCC to block the issuance of any new charters. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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