Search for: "Charter Bank"
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5 Sep 2018, 1:32 pm
Rather than a SPNB charter, Varo is seeking a full-service national bank charter from the OCC. [read post]
11 Sep 2009, 4:00 am
Ross and two of his partners have been granted preliminary approval by U.S. regulators to charter a new bank that would enable them to bid for failed institutions seized by the government, The Wall Street Journal reported. [read post]
11 Dec 2016, 6:37 am
Curry announced that the Office of the Comptroller of the Currency (“OCC”) would move forward with issuing special purpose national bank charters to financial technology (“fintech”) companies. [read post]
9 Jul 2020, 9:57 am
Still, there may be opposition to the OCC payments charter from state banking regulators and licensing authorities as well as consumer groups who also opposed the OCC FinTech charter. [read post]
30 Nov 2012, 8:24 am
Effective January 21, 2013, state-chartered banks will be prohibited from entering into interest rate swaps or other over-the-counter derivatives, unless authorized by their chartering state. [read post]
4 Jun 2017, 7:10 am
OCC, alleging that the OCC’s plan to charter fintech companies as special purpose national banks is unlawful because the process the OCC used to develop the plan was procedurally defective and because issuing such charters would exceed the OCC’s authority. [read post]
25 Jul 2017, 1:09 pm
Colombo Bank filed paperwork last month to change its charter from a commercial bank to a federal savings bank. [read post]
22 Oct 2016, 1:00 am
Over the past two weeks, the Office of the Comptroller of the Currency (“OCC”) has taken two important steps potentially towards the chartering of national trust or special purpose banks focused on FinTech businesses. [read post]
26 Nov 2010, 3:03 am
Habibsons Bank Ltd v Standard Chartered Bank (Hong Kong) Ltd [2010] EWCA Civ 1335; [2010] WLR (D) 299 “Where, in the course of a contractual transaction, a document had been altered unilaterally, and the other party sought to rely on the rule in Pigot’s case in submitting that the underlying transaction was thereby rendered void, it was important to draw a distinction between documents which contained or evidenced the transaction and documents which were… [read post]
5 Jan 2021, 2:17 pm
The Conference of State Bank Supervisors (CSBS) has filed a lawsuit in D.C. federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. [read post]
7 Aug 2020, 9:43 am
On July 31, 2020, the Office of the Comptroller of the Currency (OCC) approved the national bank charter application of Varo Bank, N.A., a wholly-owned subsidiary of fintech Varo Money, Inc. [read post]
17 Jun 2021, 11:55 am
The D.C. federal district court hearing the lawsuit filed by the Conference of State Bank Supervisors (CSBS) seeking to block the Office of the Comptroller of the Currency from granting a national bank charter to Figure Technologies Inc. has entered an order staying the lawsuit. [read post]
2 Jul 2009, 11:44 am
Each State has the authority to charter and supervise banks within... [read post]
13 Apr 2021, 6:28 am
” A topic expected to receive attention at the hearing is the OCC’s decision to accept applications for special purpose national bank charters from non-depository fintechs. [read post]
9 Oct 2017, 12:08 pm
Maxine Waters has introduced H.R. 3937, the “Megabank Accountability and Consequences Act of 2017,” that would require federal bank regulators to consider the revocation of a bank’s charter and deposit insurance if the bank is found to have engaged in a “pattern or practice” of violations of federal consumer protection laws. [read post]
5 Mar 2007, 8:42 am
The acquisition of Charter, a bank holding company that operates the Charter Bank, a commercial bank chartered in Washington, is expected to add to [...] [read post]
12 Feb 2018, 3:31 am
All banks in the country, local and international are required to adhere to the NEDLAC charter. [read post]
24 Jan 2022, 12:40 pm
These developments suggest that, at least for now, seeking a full service national bank charter (either through an acquisition of an existing financial institution or a de novo charter) is the most practical route available to fintech companies that wish to obtain a charter from the OCC and that seeking a SPNB charter that would allow a fintech company not to take deposits or to take deposits without being FDIC-insured is a path fraught with uncertainty. [read post]
1 May 2017, 6:33 am
Section 5.20(e)(1) to charter a bank that performs a single core banking function—receiving deposits, paying checks, or lending money. [read post]
9 Jan 2015, 7:24 pm
Available for download at SSRN: http://ssrn.com/abstract=2544677 “The number of new bank charters in the United States has declined dramatically in recent years. [read post]
