States gang up to kill US fintech charter and offer alternative ‘Vision 2020’

John Ryan, president of the Conference of State Bank Supervisors (CSBS), has come out in support of the New York banking regulator’s lawsuit filed on Friday against the federal OCC. He called its plans to offer special purpose charters to financial technology (fintech) firms, allowing them to compete with banks nationwide, “unlawful” and “harmful”.

Source: CNBC