Bank Wars — The OCC Responds to the NYDFS
The Office of the Comptroller of the Currency (OCC) has filed a motion to dismiss the New York Department of Financial Services’ (NYDFS)…
The Office of the Comptroller of the Currency (OCC) has filed a motion to dismiss the New York Department of Financial Services’ (NYDFS) complaint against the OCC’s effort to offer a non-depository fintech charter. The OCC’s arguments largely mirror the arguments made against the Conference of State Bank Supervisors’ suit.
As such, we won’t do a full episode on it. Instead, I suggest you read the pieces on the OCC’s procedural and substantive arguments as to why the CSBS suit should be dismissed.