Grassroots ADVOCACY POLICY EXPERTS MEMBER ENGAGEMENT WASHINGTON WATCH Moving too fast Regulators are proposing a special-purpose bank charter for fintech companies, raising more questions than answers and sparking concern in the banking sector. By Chris Cole ederal banking regulators have begun tackling the vexing question of how to oversee financial technology companies. These " fintech " firms, which use mobile devices and app-based software to offer services that banks have traditionally provided, are lightly regulated and not subject to an annual safety and soundness examination, as banks are. With the Office of the Comptroller of the Currency (OCC) now accepting applications from fintech companies to become special-purpose national banks, the regulatory process for fintech companies is coming under more scrutiny. The OCC's decision to issue a fintech charter has raised a number of concerns independentbanker.org ICBA IndependentBanker 27 Fhttp://www.qmags.com/clickthrough.asp?url=www.independentbanker.org&id=20215&adid=P27E1