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> Plus there is a still a significant anti-banker mood where being a retail only operation could be of significant benefit. If they are operating as a retail b
by easytiger 11y ago
> Plus there is a still a significant anti-banker mood where being a retail only operation could be of significant benefit.
If they are operating as a retail bank they will have the same regulatory constraints. I recall a previous attempt to create a bank was dropped after a basic set up of the legal framework to meet the regulatory requirments was estimated at £50million
- grabeh 11y agoTo encourage competition in the space, the UK recently reduced certain capital requirements in relation to banking start-ups, compared to established banks. This article has some good background: http://www.bloomberg.com/news/articles/2015-08-18/mondo-s-ceo-wants-to-build-a-bank-for-people-who-hate-banks http://www.bloomberg.com/news/articles/2015-08-18/mondo-s-ce...