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We're a neobank and credit card company and our sponsor is a regional bank in the US. Given the recent crisis their regulators (FRB, CFPB, etc) have all shown u
by mousetree 3y ago
We're a neobank and credit card company and our sponsor is a regional bank in the US. Given the recent crisis their regulators (FRB, CFPB, etc) have all shown up simultaneously. A lot of additional scrutiny on them but also on all their neobank partners. Remains to be seen how long this will last but I expect a lot of the less compliant neobanks to be sued/scaled back/shut down.