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US technology startups to get a licence to bank

But consumer advocates, state banking regulators fear it could let startups get around state laws
Monday, December 5, 2016 - 05:50

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Mr Curry said that fintech companies could continue to work under the existing rules, partnering banks, but would have the option of applying for the new charter.

New York

REGULATORS are planning to create a new type of banking licence that will allow upstart financial technology companies to expand more quickly across the US.

The plans for the new type of bank licence were announced on Friday by the comptroller of the currency, Thomas Curry

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