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ICBA to Congress: Ensure Fintech Regulatory Consistency

Sept. 19, 2018 — ICBA told Congress that it supports the development of a fintech regulatory framework that is no less stringent than that which applies to insured depository institutions.3

In a statement for a Senate Banking Committee hearing, ICBA said the OCC should ensure that any special-purpose fintech bank charter will be subject to the Bank Holding Company Act and transparent capital and liquidity requirements.

ICBA said the recent preliminary approval of mobile bank Varo Bank for a full bank charter is an example of how fintech companies that want bank charters should enter banking.

Read ICBA Statement

 

 

 

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