Licenses and charters

The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications.

Several states pledged to compensate for a slowdown in enforcement at the Consumer Financial Protection Bureau under Mick Mulvaney, but their efforts have been complicated by tight budgets and doubts over whether such initiatives are necessary.

The industry group wants the FDIC to reject an ILC request from student lender Nelnet and impose a two-year ban on future applications.

With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.

The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.

Fintech firms and industry watchers hope the pilot program will help fix a balkanized chartering system, but getting enough states on board to expand the plan's reach could be a challenge.

While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.