For Immediate Release
December 2, 2016
ABA Media Contact: Sarah Grano
(202) 663-5470
Follow us on Twitter: @ABABankers

ABA Statement on OCC Exploration of Fintech Charter

By Rob Nichols, ABA president and CEO

​     “We are strongly encouraged by the OCC’s comments on a potential special purpose charter for fintech companies. This is a bank charter for fintech companies that will hold them to the same standards of safety, access and fair treatment. Maintaining high-standards is the best way to ensure customers have access to the best financial products and services.
     “We look forward to our ongoing collaboration with OCC so that the banking industry can continue to bring the latest in financial innovation to consumers across the country.”
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The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.