Skip to content
Subscriber Only

U.S. Agency Takes Big Step Toward Regulating Fintech Companies

  • OCC to set up innovation office to examine new technologies
  • Regulator to have staff in Washington, New York, San Francisco

Without saying how it might oversee financial-technology firms in the future, a key U.S. regulator is setting up an office to respond to a surge in banking-industry innovations.

The new arm of the Office of the Comptroller of the Currency will establish an outreach program to companies, conduct research and collaborate with other financial regulators, the agency said in a statement Wednesday. The front-line office will open in the first few months of 2017, and be based in Washington, with some staff in New York and San Francisco.