Licenses and charters

The plan to offer special-purpose national charters to fintech companies is a one-size-fits-all approach that could prove detrimental to the growth of startups.

The head of the New York Department of Financial Services did not mince words Wednesday in criticizing a proposed federal fintech charter.

Critics say the Office of the Comptroller of the Currency is moving too far and too fast in its effort to offer a fintech charter, overlooking skepticism that it lacks sufficient legal authority.