PayPal Seeks US Banking License to Expand Financial Services
TL;DR Summary
PayPal has applied to become a bank in the US to enhance its small-business lending and offer interest-bearing savings accounts, leveraging a more favorable regulatory environment under the Trump administration, with potential approval from federal agencies.
- PayPal Applies to Become a Bank as US Loosens Regulatory Reins Bloomberg.com
- Payments firm PayPal files for bank charter in lending push Reuters
- PayPal applies to form bank that can offer small business loans and savings accounts CNBC
- PayPal applies for US banking licence Financial Times
- PayPal Applies to Establish Bank The Wall Street Journal
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