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Fintech Charter Lawsuit Dropped as Pilot Company Amends Application  

A consortium of state banking regulators has chosen to drop its lawsuit against the federal government aimed at blocking them from granting charters to fintech organizations. So reports Reuters.

FigureThe decision comes in the wake of Figure Technologies’ modification of its charter application indicating it will offer “federally insured deposit accounts” as one of its services. The lawsuit represents a lengthy battle between federal and state regulators regarding the oversight of app-based lenders and financial service firms.

Read the full article from Reuters.

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