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Fintech Industrial Banks And Beyond: How Banking Innovations Affect The Federal Safety Net, Cinar Oney
Fintech Industrial Banks And Beyond: How Banking Innovations Affect The Federal Safety Net, Cinar Oney
Fordham Journal of Corporate & Financial Law
The FinTech industry has been utilizing technological innovations to provide services traditionally offered by the banking and financial industry. Until now, many FinTech firms engaging in these activities had non-bank state licenses. The uncertainties surrounding their current business models and the desire to expand the operations led some of these firms to apply for industrial bank charters. An industrial bank charter is one of the few ways for a commercial firm to control a depository institution and allows FinTech firms to retain their technological investments that are not directly related to banking. However, access of these industrial banks to the …
Hb 192 - Banking And Finance, Caroline G. Mayson, Jesse C. Moore
Hb 192 - Banking And Finance, Caroline G. Mayson, Jesse C. Moore
Georgia State University Law Review
The Act changes the provisions relating to the responsibilities and standard of care for directors and officers of banks, trust companies, and corporations. The Act codifies the business judgment rule. The operative liability standard for directors and officers is gross negligence, as opposed to simple negligence, and directors and officers may rely on other individuals in the performance of their duties. A rebuttable presumption exists that directors and officers act in good faith.