Innovation

Outreach & Technical Assistance

• Establishes ongoing dialogue with banks, nonbanks (including financial technology (fintech) companies), and other stakeholders
• Provides technical assistance to banks and nonbanks
• Promotes awareness and understanding of OCC positions and expectations

Awareness & Training

• Fosters OCC staff awareness of responsible innovation and emerging trends
• Improves training and enhances the skills of examiners and other OCC staff
• Develops processes to build and leverage OCC experience and expertise

Coordination & Facilitation

• Implements a process to streamline and coordinate innovation-related decisions to ensure transparent and timely responses to inquiries
• Creates a process for OCC participation in bank-run pilots

Research

• Assesses continuously the landscape and trends in financial innovation
• Uses research and ongoing stakeholder dialogue to inform OCC policy, supervision, and analysis

Interagency Collaboration

• Uses existing communication channels to share information and collaborate with domestic and international regulators

• 06/06/2023 OCC 2023-17, Third-Party Relationships: Interagency Guidance on Risk Management
• 12/03/2019 NR 2019-142, Joint Statement on the Use of Alternative Data in Credit Underwriting
• 07/24/2019 OCC 2019-37, Operational Risk: Fraud Risk Management
• 12/03/2018 OCC 2018-44, Bank Secrecy Act/Anti-Money Laundering: Joint Statement on Innovative Efforts to Combat Money Laundering and Terrorist Financing
• 10/20/2017 OCC 2017-43, New, Modified, or Expanded Bank Products and Services: Risk Management Principles
• 09/28/2016 OCC 2016-29, Revised Comptroller’s Licensing Manual Booklet
• 06/30/2015 OCC 2015-31, Cybersecurity: FFIEC Cybersecurity Assessment Tool
• 04/04/2011 OCC 2011-12, Sound Practices for Model Risk Management: Supervisory Guidance on Model Risk Management

• 11/03/2022, OCC to Host Virtual Innovation Office Hours
• 10/27/2022, OCC Announces Office of Financial Technology
• 08/11/2022, OCC to Host Virtual Innovation Office Hours
• 02/03/2021, OCC to Host Virtual Innovation Office Hours
• 07/02/2020, CFPB, OCC Host Virtual Innovation Office Hours
• 06/25/2019, Chief Innovation Officer Discusses OCC Support of Responsible Innovation
• 07/31/2018, OCC Begins Accepting National Bank Charter Applications From Financial Technology Companies
• 09/25/2017, Acting Comptroller of the Currency Discusses Online Lending and Responsible Innovation
• 07/19/2017, Acting Comptroller Discusses Responsible Innovation and Granting National Bank Charters to Financial Technology Companies
• 06/19/2017, OCC to Hold Innovation Office Hours in New York
• 04/28/2017, Comptroller Discusses the Future of Finance and Responsible Innovation
• 04/13/2017, OCC Announces One-on-One Industry Meetings As Part of Office of Innovation Office Hours
• 03/15/2017, OCC Issues Draft Licensing Manual Supplement for Evaluating Charter Applications From Financial Technology Companies, Will Accept Comments Through April 14
• 12/02/2016, OCC To Consider Fintech Charter Applications, Seeks Comment
• 11/18/2016, Comptroller Discusses Community Banking
• 11/03/2016, Comptroller Discusses Banking Innovation and Regulation
• 10/26/2016, OCC Issues Responsible Innovation Framework
• 09/13/2016, Comptroller Discusses Marketplace Lending (PDF)
• 06/23/2016, Comptroller Highlights Effort To Develop A Framework for Evaluating Responsible Innovation
• 04/07/2016, Comptroller Discusses Innovation During Retail Banking Conference
• 03/31/2016, OCC Shares Its Perspective on Responsible Innovation, Announces June 23 Forum on Innovation
• 08/31/2015, Deputy Comptroller Discusses Compliance, Cybersecurity, and Innovation (PDF)
• 08/07/2015, Comptroller Discusses Responsible Innovation, Risk Management (PDF)

On July 31, 2018, the OCC released the Comptroller's Licensing Manual Supplement, Considering Charter Applications From Financial Technology Companies. The Supplement provides detail on how the OCC would evaluate applications for a special purpose charter from financial technology (fintech) companies, and discusses key considerations including, governance, risk management, capital, liquidity, financial inclusion and contingency planning. The document also describes the OCC's approach to supervising newly chartered special purpose national banks.

• Supplement
• Policy Statement

Please see the Supplement for details around starting the application process. Should you have any questions regarding the process, please email the Office of Innovation.

• April 2019
  Released whitepaper (PDF) and FAQs (PDF) on a proposed OCC Innovation Pilot Program. View public comments about the paper.
• October 2016
  Released Responsible Innovation Framework and established the Office of Innovation.
• June 2016
  Hosted OCC Forum on Responsible Innovation.
• March 2016
  Released whitepaper on Responsible Innovation after extensive research of financial innovation landscape. View public comments about the paper.
• August 2015
  Comptroller Discusses Responsible Innovation and Risk Management Before the Federal Home Loan Bank of Chicago