What is the Impact of Fintech Charters on Community Banks and Credit Unions?
On July 31, 2018 the Office of the Comptroller of the Currency (OCC) announced the approval of the national fintech charter. This announcement followed the Treasury Department’s report about how non-banks, like fintechs, should be regulated. The OCC’s decision is based on government efforts to promote economic growth, and support innovation that improves financial services to customers, businesses and communities.
Topics: Regulations, FinTech