The United States Office of the Comptroller of the Currency (OCC) announced Oct. 27 that it will create an Office of Financial Technology early next year. The new office will incorporate the Office of Innovation, which was set up in 2016. It will be led a by a chief financial technology officer, who will report to the senior deputy comptroller for bank supervision policy.
The OCC describes itself as the U.S.’s “preeminent prudential supervisor.” It is an independent bureau of the Treasury Department and also charters financial institutions. Acting Comptroller of the Currency Michael Hsu said in a statement:
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