September 01, 2020


DFS Superintendent Linda A. Lacewell's Statement on the OCC’s Proposed Payments Charter Reported in Politico:

“DFS is seeking clarification from the OCC regarding the Acting Comptroller’s statements in Politico on the processing of federal charter applications from payment firms and we are reviewing our legal options. The federal district court held that the business of banking requires the taking of deposits and rejected the OCC’s request to limit the geographic reach of this holding to the Southern District of New York.  Above all New York will continue to protect consumers through state oversight that puts them at the center of all we do.”