Continuing its fintech focus, the OCC has followed up on its proposed framework for responsible innovation with a work plan to advance the agency’s role and lay out the parameters for national-banks, federal savings associations, and other institutions now under direct or indirect OCC authority. The plan also contemplates special-purpose charters under the OCC’s aegis, but at present, there appear to be few prospects for special-purpose charters due to the cautious approach in this paper. Instead, the agency is focusing on supporting what it deems to be responsible innovation at the institutions it supervises. This will now apparently include pilot programs, but only under tightly-controlled conditions.
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