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Trump admin sticks by plan to oversee fintech startups

Jacqueline Martin/AP

Acting Comptroller of the Currency Keith Noreika, accused of being a tool of the financial industry, is surprising critics by adopting a relatively nuanced approach to regulation of "fintech" firms, in the emerging technology-based financial services sector.

In a speech Wednesday, Noreika defended a plan put forth by his predecessor, Obama-appointee Thomas Curry, that would enforce federal rather than state regulatory predominance over fintechs. Specifically, Noreika sided with Curry's assertion of the right to issue special federal banking charters to fintech firms like peer-to-peer lenders.