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In fairness to him, the OCC (the national banking regulator in the US) has had a practical moratorium on new national bank licenses for most of the past 10 year
by venantius 8y ago
In fairness to him, the OCC (the national banking regulator in the US) has had a practical moratorium on new national bank licenses for most of the past 10 years. You can get a new state bank charter, but not a national one. I can't blame him for not wanting to start a bank in the US lately.
- nlh 8y agoI was mostly being snarky -- totally agree: starting a bank is insanely complex & difficult, and it's not getting any easier. Kudos for even trying. No blame from here either.
- miketery 8y agoCan you expand on why one wouldn't want to start with a state bank?
- cbnotfromthere 8y agoThe problem is not the start with a state license, but expanding to a federal license.