Will Biden Fix the Rent-A-Bank Problem? (SUBSCRIBERS ONLY)
How fintech firms do an end-run around local regulations.
Number of the Week: 11.3% (explanation below)
Will Biden Fix the Rent-A-Bank Problem?
Partnerships between traditional banks and fintechs are common, and can help both sides accomplish positive things that they couldn’t do on their own. For example, a traditional bank might partner with a fintech company in order to offer its customers digital wallets.