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US regulator opens up national bank charters to fintech

August 1, 2018

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“Over the past 150 years banks and the federal banking system have been the source of tremendous innovation that has improved banking services and made them more accessible to millions. The federal banking system must continue to evolve and embrace innovation to meet the changing customer needs and serve as a source of strength for the nation’s economy,” says Comptroller of the Currency Joseph M. Otting.

As with regulators around the world, the OCC rolls out the usual line that the decision to consider applications is to provide more choices to consumers and businesses.

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