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Square Wants To Be A Bank, And Real Banks Are Pissed

Loeb & Loeb partner Stephen Aschettino is quoted on the involvement of banks in innovative finance technology products and how fintech providers could save on transaction costs if they do not utilize banks. This article discusses why fintech companies including Square and SoFi are applying bank charters and to become industrial loan companies, and why banks are opposed.

Click here to read the article on Buzzfeed’s website.