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Journalist Ryan Grim breaks down the CFPB's clash with Silicon Valley over the "non-bank" designation and avoiding banking regulations: "Why would he single out this one thing... you also most definitely cannot do? What does it mean to designate something as non-bank? Well, Silicon Valley is trying to make... show more

HalalFlow

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40,980 views • 1 year ago •via X (Twitter)

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Intrepid News1 year ago

@lwoodhouse @ryangrim It only matters is musk wants FDIC insurance, otherwise he is controlled by the state the bank operates in. I don’t think he wants to be a bank, I think he wants to provide financial services like PayPal or visa does. Those aren’t banks either.

Breakout1 year ago

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Zygett1 year ago

@ryangrim Yawn.

Maniac1 year ago

@ryangrim Your reporting is as grim as your name..wanker

Michael S1 year ago

@ryangrim Leftists think you can make a million regulations and there is no downside to doing this. Yeah some regulations are good but they are hurdles to innovation. It's ridiculous to regulate every fin tech startup like Bank of America. I'm not going to have my life savings in X.

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