From: CNBC
Neil Ainger
John Ryan, president of the Conference of State Bank Supervisors (CSBS), has come out in support of the New York banking regulator’s lawsuit filed on Friday against the federal OCC. He called its plans to offer special purpose charters to financial technology (fintech) firms, allowing them to compete with banks nationwide, “unlawful” and “harmful”.
“CSBS strongly supports the lawsuit filed by the New York Department of Financial Services against the Office of the Comptroller of the Currency (OCC),” said Ryan in a forcefully worded statement.
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