The Office of the Comptroller of the Currency (OCC) has issued a response to a lawsuit filed by the Conference of State Bank Supervisors (CSBS), claiming the federal regulator’s nonbank charter program is unconstitutional.
CSBS seeks to prevent the OCC from granting national bank charters to entities operating as nonbanks, including fintech companies.
Read on for details of the lawsuit filed recently in the U.S. District Court for the District of Columbia.
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