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Writing for American Banker, Tom Curry Analyzes the Future of the OCC Fintech Charter

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11.18.2019 | Article

Tom Curry, a partner in Nutter’s Corporate and Transactions Department and a co-leader of the firm’s Banking and Financial Services Group, recently wrote an article for American Banker titled “Congress can work around court’s nixing of OCC fintech charter.” Tom discusses how federal and state frameworks for authorizing or licensing and regulating fintechs are not meeting the needs of consumers and the industry. Tom writes, “Although the Office of the Comptroller of the Currency was an early actor and thought leader, the United States has been all too slow to adapt its regulatory structure and supervisory approach.” In addition, Tom notes the states’ efforts may improve the regulatory environment for fintechs and financial innovation along the edges; however, the only solid long-term solution of a fragmented regulatory framework may be federal legislation.

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