November 26, 2018 / 1:57 PM / 3 months ago

Cases to Watch: States, U.S. regulator fight for fintech oversight

Two lawsuits against the U.S. Office of the Comptroller of the Currency filed in federal courts in Manhattan and Washington D.C. could help resolve a fight over whether states or the federal government will be the main regulator for financial technology companies.

The lawsuits challenge the OCC’s July decision to allow so-called fintech companies to apply for national banking charters, a move that would place them under federal supervision and allow them to claim that many state regulations do not apply to them. The OCC is the main regulator for national banks.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2BxxWOH

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