House Republicans Ask Comptroller Curry to Delay Fintech Charter Guidance

Posted March, 10 2017

On March 10, 2017, Republicans on the House Financial Services Committee sent a letter to the Office of the Comptroller of the Currency urging Comptroller Tom Curry to hold off on finalization of principles for a limited purpose bank charter for fintech firms. The letter objects to finalization of the policy given the April 12 expiration of Curry’s term. Specifically, “If the OCC proceeds in haste to create a new policy for 'fintech' charters without providing the details for additional comment, or rushing to finalize the charter prior to the confirmation of a new comptroller, please be aware that we will work with our colleagues to ensure that Congress will examine the OCC’s actions and, if appropriate, overturn them,” the letter reads.

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Access: Public