The Office of the Comptroller of the Currency (OCC) is being sued over its recent decision to begin accepting non-bank charter applications from fintech companies.
The lawsuit is the second brought by the New York Department of Financial Services (NYDFS) regarding the OCC’s stance on fintech charters and coincides with the renewal of a similar legal challenge previously brought by a coalition of state bank regulators.
Find out what arguments are being put forth in the case and what the OCC said in its rebuttal.