Fintechs Firms May Soon Get Bank Charters

But for the moment, fintechs in the capital markets space will not be covered.

robot-coins-fintech

Even though fintechs in the capital markets space will not be covered at present, this could be a first step toward greater oversight for these companies.

Comptroller of the Currency Thomas J. Curry announced his office will take comments from the public before it decides on applications from fintech firms to get charters. Getting a special-purpose charter allows organizations to undertake some banking activities on a limited basis. This means firms can lend money, collect debt and issue debit

To continue reading...