During a recent webinar, Brooks said the new charters are not meant to give nonbanks “access to some preemptive power,” but rather to reflect changes in how Americans now use financial services. Consumer advocate groups have expressed a spectrum of thoughts and concerns regarding Brooks’ plans.
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Acting Comptroller of the Currency Making Waves with Fintech, Banking Policy
Newly minted Acting Comptroller of the Currency Brian Brooks is pushing for new charters specifically catering to payment companies and other fintechs as well as new rules governing fintech-bank relationships. So reports Bloomberg Law.
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