The decision comes in the wake of Figure Technologies’ modification of its charter application indicating it will offer “federally insured deposit accounts” as one of its services. The lawsuit represents a lengthy battle between federal and state regulators regarding the oversight of app-based lenders and financial service firms.
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Fintech Charter Lawsuit Dropped as Pilot Company Amends Application
A consortium of state banking regulators has chosen to drop its lawsuit against the federal government aimed at blocking them from granting charters to fintech organizations. So reports Reuters.
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