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Before yesterdayNews

Crypto Firms and Automakers Are Looking to Open Banks, at Trump’s Urging

27 May 2026 at 17:02
Urged on by the White House and a reduction in regulatory oversight, crypto companies and automakers are among those that have applied for banking charters.

© Kim Raff for The New York Times

Paul Gu, the chief executive of Upstart, an online lender seeking a bank charter. “It was just a natural next step for us,” Mr. Gu said.
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