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Thursday, April 27, 2017

CSBS takes OCC to court over nonbank charter plan

The controversy over the U.S. Office of the Comptroller of the Currency's proposal to create a new charter for nonbanks is drawing heat from bank regulators. On April 26, 2017, the Conference of State Bank Supervisors filed a complaint in the United States District Court for the District of Columbia against the OCC. The CSBS wants to stop the OCC from moving forward with what it believes is an unlawful attempt to create a national nonbank charter that will harm markets, innovation and consumers.

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