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On January 12, 2026, the Office of the Comptroller of the Currency (OCC) published in the Federal Register a notice of proposed rulemaking (NPR) entitled "National Bank Chartering." The proposal addresses the standards and procedures the OCC uses to evaluate applications to charter new national banks. Comments on the proposal must be received by February 11, 2026.
The NPR marks a significant development in federal bank chartering policy and reflects the OCC's effort to modernize and clarify its chartering framework at a time when the financial services industry continues to evolve rapidly.
Background: The OCC's Chartering Authority
The OCC has authority under the National Bank Act to charter, regulate, and supervise national banks. For decades, the agency has applied a combination of statutes, regulations, policy statements, and supervisory practice to determine whether a proposed institution should receive a national bank charter.
While the basic principles governing chartering—such as safety and soundness, capital adequacy, management quality, and compliance with applicable law—have remained largely consistent, the OCC has faced increasing pressure to provide greater transparency and predictability in how it evaluates charter applications, particularly for novel or non-traditional business models.
Purpose of the Proposed Rule
According to the OCC, the proposed rule is intended to consolidate, clarify, and formalize the standards the agency applies when reviewing applications to establish a new national bank. Rather than creating an entirely new chartering regime, the NPR seeks to codify existing practices and make the chartering process more transparent for applicants, regulators, and the public.
The OCC emphasizes that the proposal is designed to ensure that new national banks are chartered in a manner consistent with safety and soundness, fair access to financial services, and the long-term stability of the banking system.
Key Themes of the NPR
Although the NPR does not fundamentally alter the OCC's chartering authority, it highlights several important themes:
- Clarity and Transparency: The proposal aims to clearly articulate the factors the OCC considers when evaluating charter applications, including governance, capital, liquidity, risk management, and compliance systems.
- Consistency in Review: By formalizing standards in regulation, the OCC seeks to promote consistency across charter decisions and reduce uncertainty for prospective applicants.
- Applicability to New Business Models: The NPR acknowledges that proposed national banks may employ a wide range of business models, including those that rely heavily on technology or offer specialized products or services. The OCC reiterates that all applicants, regardless of business model, must meet the same fundamental supervisory expectations.
- Public Interest Considerations: The OCC continues to emphasize that chartering decisions should consider whether a proposed bank will operate in a safe and sound manner and serve the public interest consistent with applicable laws.
Why This Matters
National bank charters remain highly attractive because they offer a single federal charter with uniform supervision, potential preemption of certain state laws, and potential access to the federal banking system and the ability to fund itself through low cost FDIC-insured deposits. Any changes—or even clarifications—to the chartering framework can have meaningful implications for de novo banks, fintech companies considering a bank charter, and established financial institutions exploring new structures.
The NPR also comes at a time of renewed debate over the role of federal banking regulators in accommodating innovation while maintaining rigorous supervisory standards. Those seeking deposit insurance should remember that the FDIC has a separate application that must also be filed. We will be watching to see if the FDIC takes a similar approach.
Next Steps
Interested parties have until February 11, 2026, to submit comments on the proposed rule. Stakeholders may wish to address whether the proposal strikes the right balance between transparency and supervisory flexibility, and whether it adequately accounts for emerging business models without diluting traditional safety and soundness principles.
The OCC's final rule, if adopted, is likely to shape national bank chartering for years to come.
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