4 ms·
They should have just gone with `Friend to Friend & Interest Yielding` Man I can't wait to be done with the banking cartel!
by Kinnard 8y ago
They should have just gone with `Friend to Friend & Interest Yielding`
Man I can't wait to be done with the banking cartel!
- simias 8y agoTFA anticipated your comment: > One possible explanation for the regulatory efficiency here is that so many of fintech’s financial innovations have been tried before. Robinhood was certainly not the first non-bank to get the bright idea of pretending to be a bank and taking deposits! [...] > In many areas of “tech,” companies are racing to do things—in virtual reality, in artificial intelligence, in surveillance and data collection—that have genuinely never been done before and that pose novel social and regulatory challenges. In many areas of fintech, though, companies are racing to do things that were done in the 1920s, before modern financial regulation came into effect, only this time with an app. The regulators know how to handle that.