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Judge Rejects States’ Fintech Charter Challenge, Again (1)

Sept. 4, 2019, 3:49 PMUpdated: Sept. 4, 2019, 6:55 PM

The Office of the Comptroller of the Currency was able to beat back a challenge by state regulators to its proposed charter for financial technology firms for a second time, but the charter remains in limbo due to other litigation.

Judge Dabney L. Friedrich of the U.S. District Court for the District of Columbia on Sept. 3 dismissed the Conference of State Bank Supervisors’ lawsuit seeking to block the OCC’s special purpose national charter for fintech firms, better known as the fintech charter, arguing that the state regulators did not have standing to do so because no such charter had ...