Maybe We Need a New Definition of "Bank" (SUBSCRIBERS ONLY)
Plus: Will states ban crypto?
Number of the Week: 21 (explanation below)
Who Is a Bank? Who Is NOT a Bank? Does It Matter?
In the April 25 edition of FIN, we discussed the conundrum of fintech companies presenting themselves as banks when they aren’t. The federal government is concerned, as FIN described:
There has been a flurry of presumably necessary but somewhat peculiar communi…