Jeffrey P. Naimon quoted in bobsguide article, “US fintechs could look “seriously” at banking charters amidst OCC uncertainty”
bobsguideJeffrey P. Naimon
Jeffrey P. Naimon was quoted extensively on August 21, 2020, in a bobsguide article, “US fintechs could look “seriously” at banking charters amidst OCC uncertainty,” which explored how a charter issued to digital bank Varo might signal an industry shift.
Naimon noted, “It is unclear whether the issuance of this charter for Varo is going to be the new path. The long timeframe makes it difficult for [the fintech charter] to be a saviour, but on the other hand the prospect of having one charter is so attractive … I think we’ll continue to see successful fintech companies look very seriously at either getting a full purpose charter like Varo did, or applying for the fintech charter if they really can’t see themselves using the full charter.”