The Office of the Comptroller of the Currency opened a new door for the burgeoning financial technology sector Friday when it said it would give startups providing banking products and services the opportunity to apply for special purpose national bank charters.
Comptroller of the Currency Thomas Curry, speaking at Georgetown University Law Center on Dec. 2, said the comptroller’s office has the authority to grant such charters to fintech companies that do at least one of three functions: receive deposits, pay checks or lend money.
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