that's old thinking, the new thinking is just make it irrelevant if you're a bank or not (see "shadow banking") and let you do whatever. another good example -

that's old thinking, the new thinking is just make it irrelevant if you're a bank or not (see "shadow banking") and let you do whatever. another good example - a company is offering national sports betting, in violation of the laws of almost every state, by pretending it's actually selling futures contracts, which a weird old federal law claims are solely under the jurisdiction of the feds.