The U.S. Will Regulate Some Fintech Companies Like Traditional Lenders

Updated on
  • OCC plans to invite firms to apply for federal bank status
  • Designation would subject companies to rules of Wall Street

Over the past decade, there’s been an explosion of Silicon Valley start-ups and technology companies that act like banks. Now, a key U.S. regulator is inviting them to be regulated more like traditional lenders.

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