SoFi – Uber For Banks Is HereGuest Post
SoFi - Uber For Banks Is Here by David R. Henderson, Foundation For Economic Education
And It's Throwing Regulators for a Loop
But isn't SoFi cherry-picking loans? Absolutely. Why can't banks do this? Because if you use depositor money for loans, as all banks do, you fall under the jurisdiction of the Federal Deposit Insurance Corp. and the Community Reinvestment Act . . .
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