On September 25, 2017, Acting Comptroller of the Currency Keith Noreika discussed online lending and innovation in his keynote remarks prepared for delivery to the Online Lending Policy Summit in Washington, D.C. Consistent with his previous remarks, the Acting Comptroller expressed his support for a regulatory environment that fosters responsible innovation and touted the growth of online and marketplace lending as “the natural evolution of banking itself.”

Speaking before online lenders, the Acting Comptroller acknowledged the rapid growth of online and marketplace lending and expressed support for fintech companies being able to choose the best long-term business strategy to meet their goals, without being overburdened by regulations. He noted that fintech companies have taken different paths in recent years, some partnering with banks, some being sold or combined with other businesses, and some seeking to become banks. The Acting Comptroller expressed support for fintech companies being able to pursue whatever path fits their business model and the economic opportunity available to the company. He emphasized that “[t]oo often, regulatory burden and inefficiency limit those decisions, get in your way, and place a drag on your individual and collective economic opportunity.