The Office of the Comptroller of the Currency announced in December that it was moving ahead with special-purpose national charters for fintech firms that provide similar services to those offered by traditional banks.
OCC issued a white paper in December outlining the proposal for the fintech charters and accepted public comment on the proposal until Jan. 15. Fintech firms that take deposits, pay checks or make loans could apply for a special-purpose national charter, according to the white paper.
Several industry groups have responded in support of the plan, while some lawmakers have expressed doubt over the need for such a charter.
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