Why The ICBA Is Fighting Industrial Loan Charters For FinTechs
PYMNTS
OCTOBER 17, 2017
All industrial banks are chartered in Utah – and there are only 17 such charters issued, 15 of which are currently active. Walmart claimed it wanted to leverage the proposed bank mainly for the purpose of lowering costs of its backroom processing of check and credit card transactions and to offer high-interest certificates of deposits.
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