Regulatory Alert | October 2016 | KPMG | US
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Regulatory Alert | October 2016

Regulatory Alert | October 2016

The Client Alert provides the impact the proposed rule and potential charter would have on insured banks.


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The Office of the Comptroller of the Currency (OCC) recently released a proposed rule outlining a receivership framework for trust banks (uninsured non-depository national banks). The OCC indicates the proposal is prompted by its commitment to “responsible innovation” in finance generally and by FinTech innovations in particular. As such, the proposal potentially presents a significant step towards development of a federal FinTech banking charter.

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