Banks Push Back On Possible Banking Charters For Big Techs Like Amazon And Facebook
PYMNTS
SEPTEMBER 30, 2020
Overseen by the Office of the Comptroller of the Currency (OCC), the charter would allow firms like Facebook, Google or Amazon to bypass the process by which they need to collect money transmitter licenses state by state. However, the banking industry doesn’t like that one bit. However, the banking industry doesn’t like that one bit. “We
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