This site uses cookies to improve your browsing experience, gather site analytics and activity, track shopping cart contents, and deliver relevant marketing information.
View our privacy policy and manage your settings here. By using our site you agree to these terms.

FinTech Updates: OCC and Treasury

by BAFT Admin | Jul 31, 2018
Two important developments in U.S. financial services innovation occurred July 31, 2018: (1) The Department of the Treasury issued a long-awaited report on fintech and innovation in the financial system and (2) the OCC announced that it will begin accepting applications for national bank charters from fintech companies engaged in the business of banking.
US Treasury Issues FinTech Report and OCC Moves Forward with FinTech Charter

Two important developments in U.S. financial services innovation occurred July 31, 2018:  (1) The Department of the Treasury issued a long-awaited report on fintech and innovation in the financial system and (2) the OCC announced that it will begin accepting applications for national bank charters from fintech companies engaged in the business of banking. 

The Treasury’s report, entitled “A Financial System that Creates Economic Opportunities:  Nonbank Financials, Fintech, and Innovation,” contains over 80 recommendations designed to facilitate U.S. firm innovation by streamlining and refining the regulatory environment. These improvements should enable U.S. firms to more rapidly adopt competitive technologies, safeguard consumer data, and operate with greater regulatory efficiency. 

Many of BAFT’s advocacy positions regarding innovation are reflected in the Treasury’s recommendations, including:

  • Streamlining the regulatory environment to foster innovation and avoid fragmentation;
  • Modernizing regulations for emerging technologies and new financial products, services, and business models; and   
  • Facilitating experimentation by establishing “regulatory sandboxes,” promoting increased engagement by financial regulators, and  encouraging cooperation and alignment between U.S. regulators and their foreign counterparts.   

The OCC’s decision to consider applications for special purpose national bank charters from innovative companies is documented in a policy statement and supplement to the OCC’s “Comptroller’s Licensing Manual.” BAFT supports the OCC’s offering of such charters because they  provide companies with the option to launch on a national scale, and promote innovation, competition, and financial inclusion, while also  ensuring the safety and soundness of the financial system by holding all special purpose national banks to similar standards. 

You may find a copy of the Treasury’s press release, report, and fact sheet here.  You may find a copy of the OCC’s press release, policy statement, and manual here.

For questions, please send them to 


Leave a comment
  1. Mike Jason | Aug 17, 2018

    The regulatory management that the OCC has allowed to FinTech firms gives both possibilities and difficulties. At least, firms should help with assignment writing recognize whether a specific purpose state bank law makes sense as the role of their business strategy and advantages.

  2. Sahil Arora | Aug 16, 2018
    I found your this post while searching for some related information on blog search...It's AVG Coupons good post..keep posting and update the information.
  3. Emma122 | Aug 16, 2018
    Extraordinary Information, it has a considerable measure of stuff which is informative.I will impart the post to my companions.lenovo support uk

  4. Edward Lewis | Aug 15, 2018

    Norton is one of the most popular world class antivirus which is widely known for offering high class security services to their valuable customers. After you buy Norton Antivirus visit, sign in to norton account for Norton Setup or Install where you can enter and activate your product key to setup your account.  |

  5. Sophia Jenny | Aug 15, 2018

    Thanks for sharing this marvelous post. I m very pleased to read this article.

    [url=][/url] | [url=] [/url]  |[url=][/url]

  6. Andrew Saiman | Aug 15, 2018
    If you are looking for an antivirus for laptop/computer/mobile then McAfee is one of the best online security software. If you face any trouble in downloading, installation or activation McAfee antivirus then you can go through over website 
    <a href=""></a>
    or contact McAfee customer support team toll free number.
  7., | Aug 11, 2018, :- Get Started with your McAfee Setup by visiting and Enter 25-digit Activation Code to Setup Mcafee.
  8. Www.Mcafee.Com/Retailcard, | Aug 11, 2018
    Www.Mcafee.Com/Retailcard, :- Secure Your Laptop, PC from Virus Attack by Mcafee Antivirus. Dial Mcafee Internet Security Customer Service Phone Number for Windows. Our technician will help you in setting up, installing Mcafee Antivirus in your PC, Laptop as well.
  9. Webroot Setup, Www.Webroot.Com/Safe | Aug 11, 2018
    Webroot Setup, Www.Webroot.Com/Safe :- Get instant and affordable antivirus support service at Webroot Technical Support. Our expertise team are always there to help you.
  10. Webroot Safe, Online | Aug 11, 2018
    Webroot Safe, Online : The exceptional Webroot antivirus help group they will Solve your trouble in short time with satisfactory outcomes. You simply call on our toll Free Number and connect with our professionals.
  11. Office com setup, www.Office.Com/Setup | Aug 11, 2018
    Office com setup, www.Office.Com/Setup - Step by Step guide for office Setup, Download & complete installation online. We are providing independent support service if in case you face problem to activate or Setup office product.
  12. MS Office Setup, Office.Com/Setup | Aug 11, 2018
    MS Office Setup, Office.Com/Setup : We provide technical support for Microsoft office Setup. If you have got put in latest Microsoft office setup version or the other Microsoft product then you would like a MS office Setup client service support skilled to assist you troubleshoot and fix issues.
  13. Office.Com/Setup, | Aug 11, 2018
    Office.Com/Setup, - Office setup suite is an important set of software made to resolve the problems of inaccuracy and mistakes in documentations and presentation with the help of gear along with word & powerpoint.
  14. | Aug 08, 2018
    I really love this article, the concept is clear. I really appreciate your work.
  15. | Aug 08, 2018
    Thank you for posting this article , the concept is clear and really useful. Great job.                                                                                               
  16. ali | Aug 06, 2018
    All men try to get the good job according to the budget and education. Mostly peoples comes here best essay writing company to know the some tips to made the strong business. Communication with client and customers plays important roll. 
  17. Mcafee.Com/Mtp/Retailcard | Mcafee.Com/Maa/Retailcard | Aug 06, 2018
    Mcafee.Com/Activate, Www.Mcafee.Com/Retailcard - McAfee Antivirus software with all the updated versions is available in form of CD and also available at the online.
  18. Www.Mcafee.Com/Intelchannel | Www.Mcafee.Com/Mtp/Retailcard | Aug 06, 2018

    Www.Mcafee.Com/Retailcard, Www.Mcafee.Com/Activate - How You Can Redeem Your McAfee Product Key and Get You Antivirus Activated In Few Easy steps. Quick Learn How You Can Use to Activate McAfee using Product.

  19. Www.Mcafee.Com/Retail Card | Www Mcafee Com Activate | Aug 06, 2018

    Mcafee.Com/Retailcard, Mcafee.Com/Activate - McAfee Antivirus, free and safe download. McAfee Antivirus latest version: Destroy malware and protect your PC with the new McAfee. McAfee Antivirus is a powerful and reliable anti-malware scanning engine.

  20. Avg.Com/Registration | AVG Support Phone Number | Aug 06, 2018
    Avg.Com/Retail, Www.Avg.Com/Retail - Download AVG antivirus Installer using the direct links provided below. Includes AVG Free, Antivirus, Internet Security and PC Tuneup.
  21. Avg.Com/Registration | AVG Tech Support | Aug 06, 2018
    Www.Avg.Com/Retail, Avg.Com/Retail - Buy AVG antivirus & Internet Security 2018 to help protect your computer from virus, spyware & malware. Visit us online for attractive deals.
  22. Microsoft Office Setup | Office Setup | Aug 06, 2018
    Office.Com/Myaccount, Www.Office.Com/Myaccount - Microsoft office site, and login with your Microsoft office account used to buy or activate MS Office. The Microsoft Office serial key will be showed on your Office account page.
  23. Www.Office.Com/Setup, Office.Com/ Setup | Aug 06, 2018
    Www.Office.Com/Setup, Office.Com/Setup - We provide remote Microsoft office support for troubleshooting and resolution problems in MS office setup. Our MS office-certified specialist will resolve all sorts of queries with MS Office through phone, chat, web, and email.
  24. Jonh | Aug 01, 2018
    I have visit 1st time on your website and I really like all the information that you have put on your blog post. Thanks for putting up great content on your site. $1 web Hosting here you can find the best hosting deals for your site at an affordable cost.

    Leave a comment