The OCC's filing said that the state banking regulators have not proven that the proposal for a special purpose national bank charter for fintechs has caused real harm.
July 28, 2017 at 04:16 PM
1 minute read
State banking regulators can’t sue over a fintech charter that does not yet exist, the Office of the Comptroller of the Currency argued in court documents filed Friday.
The OCC has filed a motion to dismiss the lawsuit from state banking regulators who claim the federal banking agency overstepped its authority by introducing a special purpose national bank charter for nonbanks, or financial technology companies.
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