Bloomberg Law
June 16, 2020, 9:30 AM

New U.S. Regulator Races to Remake Banking in Fintech Image

Lydia Beyoud
Lydia Beyoud
Fintech & Regtech Reporter

Acting Comptroller of the Currency Brian Brooks wants to transform the future of banking and he may not have much time to do it.

The fact that Election Day is only five months away may explain why Brooks, who took office May 29, quickly announced plans for new types of charters for fintech and payment companies and new rules on bank-fintech relationships.

Brooks, like his predecessor, Joseph Otting, worked with Treasury Secretary Steven Mnuchin at OneWest Bank. The former Fannie Mae top lawyer and managing partner of O’Melveny & Myers LLP’s Washington office, also brings to the job considerably more ...

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