The Office of the Comptroller of the Currency is turning to the Second Circuit Court in an effort to continue its years-long battle to begin accepting special-purpose national bank charter applications from fintechs and other non-depository institutions.
The agency appealed a final judgment handed down by the District Court for the Southern District of New York in October which asserted that the agency lacks the statutory authority to issue national bank charters to entities that do not accept deposits.
Learn more details about the on-going situation.