National Online Banks?
The Office of the Comptroller of the Currency (part of the Treasury Department) announced that it was accepting applications from financial technology companies to operate as nationwide banks (“special purpose national bank charters”). Those that receive charters will eventually be supervised like similarly situated national banks, but will be subject to heightened supervision initially. Could this mean greater access to capital for small businesses?Daily tips on legal, tax, financial, and other matters to make you a smarter entrepreneur.
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