OCC Raises the Bar for FinTechs Seeking Charters

For FinTechs weighing whether to become banks, the biggest obstacle arguably has been understanding where regulatory standards have tripped up other applicants. The Office of the Comptroller of the Currency is attempting to narrow that information gap. In guidance issued in late June, the OCC clarified how it will process filings under its existing licensing regulations, including applications for de novo national bank charters.