Simpson Thacher in the News
Go Back
Keith Noreika Quoted in S&P Global Market Intelligence on OCC FinTech Charter
10.29.19
This is only gets display when printing
Partner Keith Noreika was quoted in a S&P Global Market Intelligence article titled, “Fate of Controversial US Fintech Charter Could Lie with Supreme Court,” discussing the Office of the Comptroller of the Currency's (OCC) national charter for FinTech companies. Keith noted that the OCC's legal basis to issue a FinTech charter was "quite sound,” and referenced the agency’s original rule making from the early 2000s that said a company can be a bank if it does any of the three core banking activities: making loans, paying checks and taking deposits.
To read the full article, please click here (subscription required).