Fintech Firms Get Chance to Apply for Banking License

Does this mean that fintech firms get taxpayer bailouts?

So they might actually have a level playing field now?

This is still early in the process. It will take some time before we know what the final regulation is. The comment period is between now and January of next year.

Interesting, now they get to constantly get scrutinized by the OCC, which, by the way, is no fun. Those audits can end up being brutal.

Interesting opportunity for a bunch of them.

Have a non-paywall source or copypasta?