New OCC Policy Opens Door to Big Fines for Bad Fintech Partners

New OCC Policy Opens Door to Big Fines for Bad Fintech Partners

December 12, 2022, Bloomberg Law

Nikhil Gore commentary were featured in a Bloomberg Law article about the OCC's policy opening the door to big fines for banks violating money laundering, consumer protection, or other banking regulations.

According to Nikhil, "across the board, the penalties go up in the way the OCC has done this."

Opening the door to larger penalties for smaller banks engaged in potentially risky partnerships is likely intended to make sure those banks take extra care to monitor for suspicious transactions, Nikhil said. “It’s intended as a warning.” 

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