Opening a Path for New Bank Formations

Opening a Path for New Bank Formations

The Klaros Group’s Michele Alt joins Orrick partners Jerry Buckley, Caroline Stapleton and Walt Zalenski to explore actions needed to facilitate new bank formations, which have slowed to trickle in recent years. The conversation highlights a recent letter — cosigned by Michele, Jerry, Walt and other senior banking and financial services advisers — outlining how federal financial regulators can break the logjam slowing applications for de novo charters. Among the recommendations to incoming agency leadership is a call to improve objectivity and transparency and encourage fintech and traditional bank charters to foster greater consumer choice and innovation in the financial system.

Links:

• Executive Summary: Steps To Take Now to Encourage New and Innovative Bank Formation
• Full Letter: Proposed Measures to Improve the Bank Charter Application Process to Facilitate New and Innovative Bank Formation
• Klaros Group, LLC
• Orrick Financial & Fintech Advisory
• RegFiPodcast.com