US court throws out suit against fintech charters

New York

A US federal appeals court on June 3 dismissed a lawsuit challenging a regulatory agency’s licensing of fintech companies.

The state of New York’s financial regulator had argued that the Office of the Comptroller of the Currency could not charter non-depository institutions.

The court ruled that New York had not yet suffered any injury, since no fintech company has yet received a charter. US law forbids courts from considering claims without an underlying injury.

In 2018, the OCC announced it

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