US Customers Could Soon Get A Paypal Bank
AUTHOR: Aaron Byrne, L.E.K PayPal’s pursuit of a banking charter is the latest move in a broader migration of non-bank institutions into the regulated financial core. Following in the footsteps of Block (Square) and SoFi—both of which have operated under Industrial Loan Company (ILC) charters since 2021—a diverse array of players is now seeking entry. […]
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