As of Monday morning, none of the parties involved – FHFA, the FHFA IG, and the Council – were commenting to IMFnews. Nor were they denying the existence of an investigation.
Rep. Maxine Waters, D-CA, is none too thrilled with plans by the Treasury Department and Comptroller of the Currency to open up federal banking charters to fintech firms.
There are dozens of residential lenders that use the phrase “fintech” to describe their activities, but whether they will file to become a depository is a different matter.