ETA Applauds OCC For Recognizing the Role of FinTech in Today’s Economy
7-29-2018
Washington, D.C. – July 31, 2018 – The following can be attributed to Jason Oxman, Chief Executive Officer of the Electronic Transactions Association, following the release of the Office Comptroller of the Currency’s (OCC) Special Purpose National Bank to FinTech companies:
“ETA applauds the OCC for its leadership in creating the Special Purpose FinTech Charter which will create a consistent and uniform regulatory framework for FinTech companies to quickly deliver their financial products and services to all Americans. This type of clarity benefits everyone by ensuring that industry, customers and regulators are operating from the same rules and expectations.
“The OCC Charter recognizes the value FinTechs offer to increase participation in and as access to financial services for consumers and small businesses, as well as the benefits to the overall economy. We look forward to working with the OCC on The Charter to help expand financial inclusion by making services less expensive and broadly available.”
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.