FinTech companies: Chartering relief is here

The Office of the Comptroller of the Currency has announced that it plans to create a Special Purpose National Bank Charter for FinTech Companies. Expected to greatly ease the regulatory burden on qualified organizations and expand their opportunities in the United States, some of the potential advantages of the Special Purpose Charter need further clarification.

Dentons’ Banking and Finance team examines the FinTech needs addressed by the Special Purchase Charter and the overall regulatory environment Special Purpose Charters will operate under in the new regime.