FSR Statement on OCC FinTech Charter Announcement

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FOR IMMEDIATE RELEASE
December 2, 2016

Contact: Adam Rice
202-589-2410 | @fsroundtable
Adam.Rice@FSRoundtable.org

Contact: Alison Hawkins
202-589-2427 | @fsroundtable
Alison.Hawkins@FSRoundtable.org

FSR Statement on OCC FinTech Charter Announcement

Washington, D.C. – The Financial Services Roundtable (FSR) released the following statement after today’s announcement from the Office of the Comptroller of the Currency (OCC) that it would move forward to consider an optional special-purpose charter for Fintech companies:

 “As America’s financial industry continues to innovate and evolve to better serve consumers, it’s critical that the financial regulatory process keeps pace,” said Chris Feeney, President of BITS, FSR’s technology policy division. “We appreciate the OCC’s efforts to advance the conversation and their recognition of the importance of consumer protection and cybersecurity.”

 FSR will submit additional comments to the OCC by its January 15, 2017 deadline.

 FSR is at the forefront of FinTech advocacy, having recently launched its Tech Collaborators Program to bring together leaders from the financial and technology industries to collaborate on innovative FinTech projects.

 Additionally, in January 2017, FSR will host its FinTech Ideas Festival, a futuristic event that will bring together world leaders at the CEO-level in the financial services and technology communities to envision long-term, big ideas in areas such as cybersecurity, biometrics, financial inclusion, artificial intelligence, internet of things and more.

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The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs. Learn more at FSRoundtable.org.