Opposition to the OCC’s Fintech Charter

State legislators have voiced opposition to the Office of the Comptroller of the Currency’s (OCC) proposed fintech charter; primarily concerned with nationalized rules that would ease regulations currently in place by state governments and allow payday lenders to evade state rules established for consumer protection; senators have also opposed the national charters suggesting that federal regulators collaborate with state regulators; the OCC’s comment period for the proposed fintech charter is open until January 15.  Source

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