The April 2017 Compliance Insights
(1) OCC Releases Licensing Manual Supplement for Fintech Companies Applying for a Special Purpose National Bank Charter
: This licensing manual supplement provides instructions on how to initiate the charter application process, as well as some transparency into the OCC evaluation and decision-making processes.
(2) Russia Airs its Dirty Laundry
: From 2010 to 2014, nearly $21 billion was siphoned out of Russia by exploitation of the Moldovan banking and legal system, illegal use of shell companies, bribery, and misdirection.