A First Look at the Plans of the Office of the Comptroller of the Currency for a National Payments Charter
Acting Comptroller Brooks recently revealed the OCC’s plans to create a national payments charter for payment processing companies. After discussing the new charter’s intended purpose and benefits, we look at the OCC’s planned two-phase roll-out, how a payments charter would differ from the OCC’s fintech charter, other charter options for non-bank payment processors, and possible legal challenges.
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