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Investment banks. Regular banks would hold the funds in treasuries and other low risk securities.
by noway421 9y ago
Investment banks. Regular banks would hold the funds in treasuries and other low risk securities.
- newfoundglory 9y agoThat was only because it was specifically regulated to be so by the Glass Stegall Act, which was repealed in 1999 which was right when PayPal was created. So they had good timing, but it's not like they came up with anything new.