12/5/16 - Julie Williams Discusses Requirements for Fintech Firms Under the OCC’s Charter Proposal
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12/5/16 - Julie Williams Discusses Requirements for Fintech Firms Under the OCC’s Charter Proposal

Promontory Managing Director Julie Williams spoke to WSJ Pro on capital standards and other requirements financial-technology companies would need to meet to receive a special-purpose banking charter, under the Office of the Comptroller of the Currency’s recent proposal to begin granting the charters.

The plan “pretty much assures that there will be some fintech charters because the OCC can’t go through all this buildup and then create a test that no one can pass,” she said. “However, the process to get across the finish line is not for the faint of heart.”