Fintech regulations

House Republicans' concern with the Office of the Comptroller of the Currency's fintech charter signals growing lawmaker resistance to the plan, which was already opposed by two prominent Senate Democrats earlier this year.

Banks and consumer rights groups appear to have found unusual common ground in the debate over screen scraping, asking the CFPB to weigh in on the application of certain regulations to fintech companies that aggregate financial data on customers' behalf.

Comptroller of the Currency Thomas Curry defended plans to offer a nonbank charter to fintech firms, disputing, among other things, arguments that his agency lacks the legal authority to do so.

First half: Brett King says the OCC fintech charter is overdue. Second half: fintech and refugees.

The New York State Department of Financial Services is hoping to expand its authority to marketplace lenders, brokers, merchant cash advance companies and others that previously could operate in the state without a license.

Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached.

The Online Lending Policy Institute says it aims to fill a gap in fintech research.

Jan Owen, California's commissioner of business oversight, on Tuesday invited representatives of 13 fintech companies to a "frank, constructive dialogue" on the obstacles they face with state licenses.

While this will hold fintech to similar regulatory standards as traditional FIs, credit unions are especially vulnerable to these potential disruptors.

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