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Tom Curry, a partner in Nutter’s Corporate and Transactions Department and co-leader of the firm’s Banking and Financial Services group, commented on fintech regulation in American Banker. In the article, “This Month Could be a Turning Point in Fintech Regulation,” Tom discussed the difficulties that fintech firms face when applying to be approved as a bank by either the OCC or the FDIC. “Anyone who is the first applicant out of any gate – whether it’s through the OCC as a full-service bank or ILC or a special-purpose bank – is really going to have to have everything in place,” said Tom. He continued, “Time is of the essence to come up with a comprehensive policy process for regulating fintech firms. What we have now are fintech firms trying to enter the banking system through the back door, through partnership agreements that may or may not be fully vetted or seen by the regulators.”