SoFi’s Bit to Become an Industrial Bank Pulls FDIC into Fintech Fray
National Mortgage News, May 15, 2017–Kevin Wack (subscription)
The Federal Deposit Insurance Corp. has so far managed to stay out of the growing battle over how the U.S. fintech sector should be regulated, but that appears likely to end as one of the nation’s largest online lenders announced plans to apply for a specialty banking charter soon.
