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WASHINGTON, D.C.—The Office of the Comptroller of the Currency now will consider applications by FinTech companies to organize a national bank. Such a move has the potential to impact companies across the financial services industry, but particularly credit unions. Womble Carlyle attorney Richard Garabedian compares the industry-changing potential to Uber’s impact on the taxi industry.
Garabedian addresses the prospect of FinTech banks—and how the credit union industry should respond—in a new article in the Credit Union Times.
Click here to read “FinTech Banks: A New Uber?” in the Credit Union Times.
Richard Garabedian is based in Womble Carlyle’s Washington, D.C. office where he represents financial industry clients in mergers and acquisitions, as well as regulatory matters. He also advises clients on bank and credit union charter changes, new products and services, de novo bank formations, government assisted acquisitions of failing financial institutions, enforcement matters, corporate governance, stock and mutual holding company formations and mutual-to-stock conversions. Garabedian is also a member of the firm’s FinTech Leadership Team and the Impact Economy Team.