SEC. 5 › (c)

(c) .— Factors to Be Considered

Bill Text

||

The factors described in this subsection are the following:

§5(c)(1)

(1)

The ability of the applicant (or, in the case of an applicant that is an insured depository institution, the subsidiary of the applicant), based on financial condition and resources, to meet the requirements set forth under section 4.

§5(c)(2)

(2)

Whether an individual who has been convicted of a felony offense involving insider trading, embezzlement, cybercrime, money laundering, financing of terrorism, or financial fraud is serving as an officer or director of the applicant.

The competence, experience, and integrity of the officers, directors, and principal shareholders of the applicant, its subsidiaries, and parent company, including—

§5(c)(4)

(4)

Whether the redemption policy of the applicant meets the standards under section 4(a)(1)(B).

§5(c)(5)

(5)

Any other factors established by the primary Federal payment stablecoin regulator that are necessary to ensure the safety and soundness of the permitted payment stablecoin issuer.