The Fed Needs to Provide Clarity on the OCC Fintech Charter
The Federal Reserve is under pressure to provide more clarity on its stance on whether non-banks can have direct access to central bank lending and to the U.S. payment system. According to former OCC head Thomas Curry this was somewhat on the back-burner during the early discussions on the charter. While the OCC fintech charter is under legal challenge from the states it was endorsed by the Treasury Report in July and Comptroller Otting gave a vigorous defense of the charter yesterday. Source.