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Another lawsuit challenging the OCC's authority to create a special purpose bank charter for fintechs has been tossed. Meanwhile, the fintech industry is awaiting the OCC's next move.
May 01, 2018 at 11:44 AM
1 minute read
The second suit filed against the Office of the Comptroller of the Currency over its so-called fintech charter has been tossed.
The lawsuit, filed by the Conference of State Bank Supervisors, a group of state financial regulators, in the U.S. District Court for the District of Columbia, challenged the OCC’s authority to oversee nonbanks, including financial technology companies.
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