Yesterday, a New York federal judge ruled that the New York Department of Financial Services (NYDFS) could proceed with two of its three claims against the Office of Comptroller of the Currency (OCC); this is a significant blow to the fintech sector and those companies considering applying for the proposed OCC fintech charter; the NYDFS had raised concerns about the charter and how it could hurt consumers targeted by predatory lenders; in September the NYDFS had sued the OCC to block the issuance of any new charters. Source.
