Acting Comptroller Keith Noreika Wednesday endorsed hispredecessor's plan to issue national bank charters to fintechcompanies.
Speaking at the Exchequer Club in Washington, Noreika also saidthat despite a lawsuit challenging the OCC's power to issuesuch charters.
“On principle, companies that offer banking products andservices should be allowed to apply for national bank charters sothat they can pursue their businesses on a national scale if theychoose, and if they meet the criteria and standards for doing so,”he said, according to a text of his speech.
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