Banker bot gets a badge

Financial News: “It will be much better for the health of the federal banking system and everyone who relies on these institutions, if these companies enter the system through a clearly marked front gate, rather than in some back door, where risks may not be as thoughtfully assessed and managed,” Thomas Curry, the head of the Office of the Comptroller of the Currency, said in remarks prepared for delivery Friday morning at Georgetown University Law Center.
In a document released along with his speech, the OCC said it soon would allow so-called fintech firms – which offer loans through online platforms and payment systems through smartphone apps and websites – to become “special purpose national banks,” a move the tech industry has long lobbied to achieve.

The change would make it easier for them to do business by giving them a chance to operate nationally on their own with one license, rather than seeking permits state by state, or without partnering with a traditional brick-and-mortar bank. Many firms say the current process is cumbersome and costly, making it difficult to expand as a startup with limited resources.

How does this eliminate state by state regulation?  States never really taxed cash anyway.  This is more of a signaling thing, like graduating from one of the Amazon mail order classes.
To see how immaterial, consider that all the trading pits are likely to be buried in the snow in Canada somewhere, completely oblivious to state boundaries, unless they can be traded.