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Why is it possible for so many small banks to start and flourish in the UK but not in the US?
by pm90 8y ago
Why is it possible for so many small banks to start and flourish in the UK but not in the US?
- jackpeterfletch 8y agoThis is actually related to a very deliberate initiative from the Bank of England to make becoming a bank easier. https://www.bankofengland.co.uk/prudential-regulation/new-bank-start-up-unit https://www.bankofengland.co.uk/prudential-regulation/new-ba... They recognized that it was basically impossible to enter the industry at one point and its been stifling competition for a very long time.