Payments firm PayPal files for bank charter in lending push Payments firm PayPal said on Monday it has applied to establish a bank in the United States, as companies rush to capitalize on a friendly regulatory environment under the Trump administration
PayPal seeks bank charter | Banking Dive The digital payments pioneer said it’s seeking the charter so it can expand the financial services it offers to U S small businesses under a proposed PayPal Bank brand The company has extended $30 billion in loans and working capital to small businesses, but this move would let it knock third parties out of some arrangements
PayPal Bank Charter Would Take Lending In-House - PaymentsJournal What’s in it for PayPal? If the charter is approved, PayPal would expand beyond small business lending to provide interest-bearing savings accounts to its customers as well “The question for PayPal is what advantages they expect to get by chartering a bank except for additional compliance requirements,” said Apgar