The Office of the Comptroller of the Currency’s announcement in early December that it would grant a special purpose national bank charter to non-bank financial technology companies is causing no small amount of concern in the industry.
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FinTechs Can Now Become Banks, if They Choose
Comptroller of the Currency Thomas Curry said the move to grant non-bank financial technology companies a bank charter will "support responsible innovation" in the financial industry.
Read More »FinTechs Prompt OCC to Create New Division
The Office of the Comptroller of the Currency wants to be able to better understand how financial innovation is affecting the banking system.
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