PayPal applies to become a bank under Trump's looser financial rules

Engadget
By Sarah FieldingDec 16, 2025, 2:30 pm98 pts
PayPal is the latest company looking to become a bank in the US. On Monday, the company announced it had submitted applications for PayPal Bank to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI). PayPal is already a bank in Europe, based in Luxembourg. …

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