Last month, Thomas J. Curry, Comptroller of the Currency gave remarks about Special Purpose National Bank Charters for Fintech Companies. You can read Mr. Curry’s remarks here. Mr. Curry announced that the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose national banks. Mr. Curry hadContinue reading “Update on Fintech, Social Entrepreneurship and Special Purpose National Bank Charters for Fintech Companies.”
Category Archives: banking
Special Purpose National Bank Charters for #Fintech Companies
Today, Thomas J. Curry, Comptroller of the Currency gave remarks at Georgetown Law School about Special Purpose National Bank Charters for Fintech Companies. You can read the remarks here. Mr. Curry announced that the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose nationalContinue reading “Special Purpose National Bank Charters for #Fintech Companies”
Big Bank Troubles and Trending Towards Community Banking or Fintech?
“The so-called Sons and Daughters Program was nothing more than bribery by another name,” -Assistant Attorney General Caldwell. Today the Department of Justice issued a Press Release – JP Morgan’s Investment Bank in Hong Kong has agreed to pay a $72 Million Penalty for Corrupt Hiring Scheme in China. Yikes. A couple of thoughts: 1.Continue reading “Big Bank Troubles and Trending Towards Community Banking or Fintech?”
Lesson for Businesses: “Words Matter.” Court of Appeals Reverses in favor of Bank of America.
Words Matter. Contracts are about risk allocation. In a transaction, who bears what risk? Back in April I posted on a recent Supreme Court case – Bank of America v First American Title, et. al. If you recall, that case involved allegations of mortgage fraud perpetrated against BOA to the tune of millions of dollars. AboutContinue reading “Lesson for Businesses: “Words Matter.” Court of Appeals Reverses in favor of Bank of America.”
Working to Build Better Communities: Lending Barriers to Stabilizing Neighborhoods in Detroit.
Today Thomas J. Curry, of the Office of the Comptroller of the Currency (“OCC”) spoke at the 2016 National Interagency Community Reinvestment Conference in LA. You can read Mr. Curry’s complete remarks here. Mr. Curry acknowledged the many groups and organizations “working to build better communities and improve the financial lives of low- and moderate-income individuals” AContinue reading “Working to Build Better Communities: Lending Barriers to Stabilizing Neighborhoods in Detroit.”
Banks, Lawsuits, and Settlements: What’s going on with Banks?
This week I noticed several headlines that amount to bad news for big banks. I will give you my honest gut-reaction when first reading these headlines: 1. CommerceWest Bank Admits Bank Secrecy Act Violation and Reaches $4.9 Million Settlement with Justice Department (see Link) Violating the Bank Secrecy Act? Really? That just sounds bad… CommerceWest BankContinue reading “Banks, Lawsuits, and Settlements: What’s going on with Banks?”
Purpose Driven General Counsel 