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N.Y.'s Fintech Charter Suit Survives OCC Challenge (2)

May 2, 2019, 6:08 PMUpdated: May 2, 2019, 8:41 PM

New York’s financial regulator can continue its lawsuit against the OCC’s special national banking charter for financial technology firms, a federal court ruled.

The Office of the Comptroller of the Currency failed to rebut claims from the New York Department of Financial Services that the proposed national fintech charter “posed a threat” to the state’s ability to establish its own laws and regulations, Judge Victor Marrero of the U.S. District Court for the Southern District of New York said May 2.

Because of that, the DFS challenge to the charter can continue, although Judge Marrero did dismiss one of New...

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