The U.S. District Court for the Southern District of New York denied the Office of the Comptroller of the Currency’s motion to dismiss a lawsuit that challenged the OCC’s authority to issue "FinTech" charters under the National Bank Act.
The Federal Reserve Board solicited feedback on whether to amend regulations on reserve requirements to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions.
The New York State Department of Financial Services filed a Complaint to stop the Office of the Comptroller of the Currency from accepting special purpose national bank charter applications from fintech companies.
The Structured Finance Industry Group, Inc. and SIFMA filed an amicus brief urging the U.S. Supreme Court to grant certiorari and reverse a Second Circuit ruling that the application of state usury laws to third-party assignees is not preempted by the National Bank Act.
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