Fintech Companies Can Now Apply for US Banking Licence

[kreslik.news]

The Office of the Comptroller of the Currency, the US’ banking regulator, announced yesterday that it will be accepting applications from fintech companies to receive a National Bank Charter. A National Bank Charter means that a company will function as a member bank of the Federal Reserve.

Comptroller of the Currency Joseph Otting said: “Companies that provide banking services in innovative ways deserve the opportunity to pursue that business on a national scale as a federally chartered, regulated bank.”

[url=https://simplefx.com/dashboard/?utm_source=financemagnates.com&utm_medium=pr26062018&utm_content=SFX&utm_campaign=FXmedia]Time to buy the dip?[/url]

Federal bank supervision

The OCC is an independent arm of the US Department of the Treasury. Its ... (read more)