The National Credit Union Administration proposed amendments to its chartering and field of membership rules with the goal of expanding financial services made available to low- and moderate-income communities.
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In a new report, the Congressional Research Service reviewed the federal and state bank charter process and analyzed risks associated with potential charters for FinTech firms and certain issuers of cryptocurrency.
On January 18, 2022, the OCC conditionally approved Social Finance, Inc. applications to charter a full-service national bank.
In an Interpretive Letter, the Office of the Comptroller of the Currency clarified the authority of (i) banks to engage in cryptocurrency activities and (ii) the OCC to charter national trust banks.
The Federal Reserve Board compiled FAQs on existing interpretations from Orders, rulemakings, letters to institutions and other written and verbal guidance.