Payments News

Regulation

State regulators renew legal fight over federal charter for fintechs

“State bank regulators on Thursday sued a federal agency that they say is overstepping its bounds by offering national bank charters to financial technology startups. The Office of the Comptroller of the Currency, which oversees national banks, this summer finalized plans to put forward a limited charter for fintech companies, allowing those firms to operate across state lines without having to comply with each state’s rules.”