PayPal applies to form its own bank to expand small-business lending [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance
customers' deposits eligible for federal insurance coverage, the payments company said Monday. PayPal has submitted applications to authorities in Utah and to the Federal Deposit Insurance Corp. to set up PayPal Bank, the company said in a news release. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. The banking option would also allow PayPal to expand loans to small businesses and rely less on third parties, it said. PayPal has provided $30 billion in loans to more than 420,000 businesses worldwide since 2013, according to the company. If PayPal's applications are approved, the company will join other entities that have not been traditionally seen as banks in receiving banking charters, such as the digital asset firms that have recently received preliminary approval from the federal government. The trend reflects the broader push from President Donald Trump's second administration to ease banking rules. The comp
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- TM's page on the SEC website