Fintechs Face Difficult Regulatory Realities on Charters

FDIC Chairman Jelena McWilliams at her agency's Fintech and the Future of Banking event in Washington, D.C., on Wednesday.

WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. Both regulators said proving the necessary capital and profitability have been particularly difficult for …Read More

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