Recent fintech banking announcements by federal agencies will have widespread state regulatory burdens for institutions, according to a new Wolter Kluwer whitepaper.
The Office of the Comptroller of the Currency has begun accepting applications for special purpose national bank charters “from non-depository financial technology companies engaged in the business of banking.”
Read on to find out what a regulatory expert at Wolter Kluwer told RESPA News about how the changes could impact the banking and fintech industries.
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