July 31, 2018 / 6:05 PM / in 10 months

U.S. bank regulator to start accepting fintech charter applications

WASHINGTON (Reuters) - A U.S. bank regulator said on Tuesday it would start accepting national charter applications from financial technology companies, giving so-called fintech firms a path to federal oversight for the first time ever.

The move by the U.S. Office of the Comptroller of the Currency opens the door for online and peer-to-peer lenders to operate nationwide under a single licensing and regulatory regime, and came hours after the Treasury Department endorsed the approach in a new report.

Reporting by Pete Schroeder; Editing by Meredith Mazzilli

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