Leaders at the Office of the Comptroller of the Currency have turned up the volume on their assertions that the regulation of financial technology and payments companies is unchecked and ungoverned unless the OCC intervenes. At the same time, the agency is saying that the current system in which states regulate fintechs is too cumbersome for companies to navigate.
That is confusing and contradictory. But what is clear is that the OCC wants to charter and regulate fintechs even though its role is to regulate institutions that take deposits. Read the complete article HERE.
