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Client Alerts

OCC Clarifies Expectations for Fintech Companies Providing Products or Services to Federal Banks and Thrifts

July 2017
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On June 7, 2017, the Office of the Comptroller of the Currency (“OCC”) issued a bulletin addressing frequently asked questions (“FAQs”) regarding the risk management practices that national banks and federal savings associations (collectively, “banks”) are expected to put in place with respect to third-party relationships. The FAQs supplement previous guidance issued on the topic by the OCC in Bulletin 2013-29. This Client Alert describes the impact that Bulletin 2013-29 and the FAQs can have on financial technology (“fintech”) companies that intend to provide products or services to banks.

Read the Client Alert here.

This Client Alert has been prepared by Tucker Ellis LLP for the use of our clients. Although prepared by professionals, it should not be used as a substitute for legal counseling in specific situations. Readers should not act upon the information contained herein without professional guidance.