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Tom Curry Addresses Fintech Charters in American Banker Podcast

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Tom Curry, a partner in Nutter’s Corporate and Transactions Department and a co-leader of the firm’s Banking and Financial Services group, weighed in on the OCC’s special purpose national fintech charter in an American Banker podcast. In the segment, “Why is it so hard for a fintech to become a bank?,” Tom said, “We really need to look at the business of banking in a much broader sense. I think it is counterproductive to look at what banking consisted of, or what banking practices were in 1863, when the National Bank Act came into being. It is an evolutionary business, the regulatory framework around that needs to adapt. And I think that's really a point that gets lost in some of the subsidiary debates that have gone on.”

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