The Office of the Comptroller of the Currency's plan to offer a federal charter for fintech companies is facing a challenge from two top Senate Democrats.

In a letter Monday to Comptroller Thomas Curry, Sens. Sherrod Brown, D-Ohio, and Jeff Merkley, D-Ore., opposed the creation of the charter, which would allow certain types of fintech companies to avoid state licensing requirements by obtaining a limited-purpose bank charter.

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