Court Permits New York DFS Suit Against OCC Regarding Fintech Charter

On 2 May 2019 a federal district court judge denied a motion to dismiss filed by the U.S. Office of the Comptroller of the Currency (OCC) in the lawsuit brought by the New York State Department of Financial Services (DFS), which challenged the OCC's decision to begin accepting applications from fintech companies for special purpose national bank (SPNB) charters (the Fintech Charter Decision) (for further details please see "OCC to issue fintech charters").