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Rift Deepens Over Federal Fintech Charter

The U.S.’ most influential and wealthy technology giants have backed proposals to create a federal charter for fintech firms, despite claims from state regulators it would threaten financial stability and choke off innovation.

The feud has arisen since the Office of the Comptroller of the Currency (OCC), a top federal banking regulator, announced its intention to allow non-bank financial technology providers to become regulated federally rather than on a state-by-state basis.

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