NY Gets Reinforcements In 2nd Circ. Fintech Charter Fight

Law360 (July 31, 2020, 10:21 PM EDT) -- Consumer advocates, community banks, state regulators and academics are going to bat at the Second Circuit for New York's legal campaign against the Office of the Comptroller of the Currency's fintech charter program, arguing the specialized charter is an ahistorical invention that mucks up federal and state law.

In a series of amicus briefs filed Wednesday and Thursday, groups including the National Consumer Law Center, Independent Community Bankers of America, Conference of State Bank Supervisors and nearly three dozen legal scholars urged the appeals court to side with New York's Department of Financial Services and rule the OCC can't issue banking...

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