Sanctioned Disruption of the Banking Industry to Come

For the most part the announcement from the Office of the Comptroller of the Currency (OCC) are painful boring. Sorry fellas.

But this one looks like it could provide some innovative changes to the banking industry that could disrupt things for the better. The OCC says:

“On December 2, 2016, Comptroller of the Currency Thomas J. Curry will discuss the possibility of granting national bank charters to financial technology companies during an event hosted by Georgetown Law’s Institute of International Economic Law.

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The Comptroller will share his perspective on issues related to granting special purpose national bank charters to financial technology companies that provide bank services and products.

The discussion continues work by the Office of the Comptroller of the Currency to support responsible innovation in the federal banking system to enhance safe and sound bank operations, increase financial inclusion, and promote fair treatment of customers.”

Current Financial Technology companies include, Prosper, Lending Club, SoFi, PayPal, Square, Stripe, GoFundMe, Kickstarter, NerdWallet, Credit Karma, Betterment, and Yodlee. Here is a ranking of the top FinTech companies by the New York Times.

If anyone would like to attend this event, here are the details:

Date: Friday, December 2, 2016. Time: 9:30 a.m. – 11:00 a.m.

Space will be very limited; please RSVP ASAP

Georgetown Law
600 New Jersey Avenue, NW
Washington, DC 20001

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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