The OCC Fintech Charter—Opportunity with a Twist

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