US: OCC Seeks Comments on Innovation Pilot Program

On April 30, 2019, the Office of the Comptroller of the Currency (OCC) launched a consultation on its Innovation Pilot Program. The program is intended to be voluntary and designed to provide eligible entities with a consistent and transparent framework to test innovative activities that could present significant opportunities or benefits to consumers, businesses, financial institutions and communities.

The eligible entities would engage with the OCC on pilots, e.g. short-term and small-scale tests that will determine the feasibility of the tested products/services. Such pilots, however, may also consider how “large-scale activity” could be practically implemented.

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