SECOND CIRCUIT HOLDS NYDFS LACKS STANDING IN OCC FINTECH CHARTER SUIT

SECOND CIRCUIT HOLDS NYDFS LACKS STANDING IN OCC FINTECH CHARTER SUIT

Recently, the Second Circuit held that the New York Department of Financial Services lacked standing to challenge the Office of the Comptroller of the Currency’s (“OCC”) special purpose national bank charter for nondepository financial technology companies (“Fintech Charter”). The Second Circuit held that failed to allege that the OCC’s decision to offer the Fintech Charter caused NYDFS to suffer “an actual or imminent injury in fact.” Read More