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The Office of the Comptroller of the Currency has announced that it plans to create a Special Purpose National Bank Charter for FinTech Companies. Expected to greatly ease the regulatory burden on qualified organizations and expand their opportunities in the United States, some of the potential advantages of the Special Purpose Charter need further clarification.
This article from the law firm Dentons US LLP examines the FinTech needs addressed by the Special Purchase Charter and the overall regulatory environment Special Purpose Charters will operate under in the new regime. Read more here http://www.dentons.com/en/insights/alerts/2016/december/5/fintech-companies-chartering-relief-is-ere
