|When technology takes over
As California burned this month, the hotbed of
technology that is Silicon Valley had a fire of its own raging.
Just hours after the release of the Treasury's Nonbank
Financials, Fintech, and Innovation report, the Office of the
Comptroller of the Currency gave fintech companies its
permission to make applications for a special banking charter,
allowing them to become banks if they wish. But given the
likelihood that state regulators will launch a renewed push to
appeal the decision, there won't be much action for the next
few months at least while companies weight up their
Apple became the first US company to have a stock valuation
of over $1 trillion. The company's recent decision to sell its
signature iPhone at a price point of around $1,000 played a big
part in pushing the stock price to over...