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Tom Curry Quoted on the Special-Purpose Bank Charter in S&P Global Market Intelligence

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10.28.2019 | Announcement

Tom Curry, a partner in Nutter’s Corporate and Transactions Department and a co-leader of the firm’s Banking and Financing Services Group, recently commented on a federal judge ruling that the OCC cannot issue special-purpose bank charters to companies that do not take deposits in an article, “Fate of controversial US fintech charter could lie with Supreme Court,” published by S&P Global Market Intelligence. Tom noted the significance of the case could lead the Supreme Court to take it up, should the losing party in the Second Circuit appeal again. According to Tom, the lack of national oversight for fintechs creates a competitive inequality from an international standpoint, preventing a vibrant industry from forming by not having "a more rational regulatory structure."

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