Tag Archives: Treasury

ILCs, the OCC, and the Future of Fintech Banking

Industrial Loan Companies (ILCs) are a different kind of financial institution. The ILC is a state-chartered FDIC-insured depository financial institution with certain advantages common to banks but without all of the corresponding regulatory overlay. This is one reason why aspiring fintech companies may consider foregoing the pursuit of a federal OCC “fintech” charter in favor … Continue Reading

Treasury’s “Unified Regulatory Sandbox” Proposal– Keeping America’s Financial Technology Sector Competitive Will Require Innovation—And Cooperation

In its July 2018 report on “A Financial System that Creates Economic Opportunities,” the U.S. Treasury Department outlined its proposals to identify improvements to the regulatory landscape to “better support nonbank financial institutions, embrace financial technology, and foster innovation.” The Treasury Report contains over 80 specific recommendations for “Embracing Digitization, Data and Technology,” “Aligning the … Continue Reading
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