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OCC won’t allow fintech national bank charters for commercial firms, addressing potential Walmart fintech bank concerns

Greg Omer March 17, 2017
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The primary concern of many community bankers with allowing nonbank commercial companies to own banks is the potential for the “anti-competitive effects and undesirable concentrations of economic power” referred to by the OCC, which apparently shares that concern. READ MORE

Fintech: Internet banking across state borders triggers compliance challenges for state banks

Greg Omer January 20, 2017
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State-chartered banks offering financial products via the Internet to out-of-state customers, either directly or through a nonbank fintech arrangement, should be careful to consider the potential compliance pitfalls of the applicable laws of the customer’s home state. READ MORE