Fintech Wars: New York v. OCC et al…
New York | The term financial technology or “fintech” was reportedly coined back in the 1980s by Peter Knight in The Sunday Times, but from the start the buzzword carried political connotations. Banks are among the most protected industries, thus seeking to displace banks is by definition treasonable. Some media and investment circles joyfully described fintech as an alternative to big banks, especially following the 2008 financial debacle and bailout. Big banks are bad, so