Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion
PYMNTS
NOVEMBER 23, 2020
In terms of mechanics, he explained, having a national bank charter in hand from the OCC means Figure will not have to obtain licenses to provide financial services on a state-by-state basis, but instead will be enabled to deliver its offerings on a nationwide basis while tailoring its compliance to the mandates of the OCC as sole regulator.
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