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OCC seeks comments on proposed innovation program

The OCC has opened a 45-day public comment period on a proposed Innovation Pilot Program. The program would be voluntary and designed to provide eligible entities with regulatory input early in the testing of innovative activities that could present significant opportunities or benefits to consumers, businesses, financial institutions, and communities.

Entities eligible for the proposed program would be OCC-supervised financial institutions, including those engaging a third party to offer the innovative product, service, or process. Entities may propose a pilot individually or as a collaborative effort such as a consortium or utility. An FAQ regarding the Program was also posted.

Comments on the proposed program should be sent to pilotprogram@occ.treas.gov by June 14, 2019.

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