OCC Outlines Fintech Plans Amid State Protests

The U.S. national banking regulator is pressing ahead with plans to license fintech companies at federal level, despite uproar from state regulators keen to defend their jurisdictions.

Officials at the Office of the Comptroller of the Currency (OCC) published details of how the rules would work in a supplement earlier this week, defending the agency’s authority to charter non-bank fintechs and claiming it would hold them to the same standard as its chartered banks.

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