News

The OCC Fintech Charter—Opportunity with a Twist

Thursday, March 16, 2017
Arnold & Porter Kaye Scholer LLP
250 West 55th Street
New York, NY
10019
USA

Guest Speaker: Rob Lavet, General Counsel of Social Finance (SoFi)

The recently proposed OCC expansion of the special purpose national bank charter for Fintech companies creates a very interesting opportunity for single source supervision of companies that provide consumer financial services without offering insured deposits. But at what price? This two-part seminar will explore the following attributes and issues that are critical to an evaluation of the OCC's proposed innovation:

Part I: Regulatory Perspective

  • Permitted activities
  • Impact of ongoing OCC supervision and enforcement
  • Ongoing compliance expectations
  • The extent of preemption of state laws
  • Corporate governance requirements

Part II: Effect on Transactions

  • Impact on day to day transactions
  • Impact regarding state licensing requirements
  • Effect on usury caps
  • Impact on strategic transactions, including capital raising and M&A

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