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OCC Appeals Fintech Charter Ruling to Second Circuit (1)

Dec. 19, 2019, 10:23 PMUpdated: Dec. 19, 2019, 10:38 PM

A federal banking regulator has appealed a lower court ruling blocking its ability to offer fintech companies a special bank charter.

The New York Department of Financial Services sued in 2018 to block the Office of the Comptroller of the Currency from offering the so-called fintech charter.

A judge for the U.S. District Court for the Southern District of New York ruled Oct. 21 in favor of the DFS to block the OCC from offering the charter anywhere in the U.S. and not just the state of New York.

The OCC is now seeking a review of the ruling before...

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