PayPal Seeks Bank Charter, Signaling Fintechs’ Move Away From Traditional Partnerships
PayPal Holdings Inc. has filed an application for a U.S. bank charter, a step that highlights growing interest among large financial-technology companies in operating their own regulated banking units rather than relying on third-party institutions. The application, aimed at creating PayPal Bank, was disclosed in a midday Market Talk note carried by Dow Jones Newswires. According […]