3/5/12

There were no new banks created in the US in 2011, making it the first year in decades that the country has gone without the establishment of a single start-up lender.

The lack of new or de novo banks underscores the rapidly shifting business environment for US financials and changed attitudes towards the industry after the recent crisis.
http://www.ft.com/intl/cms/s/0/df4c2dd8-63af-11e1-...

Thoughts?

Comments (2)

3/5/12

Legally created barriers to entry have no longer made it attractive to start a bank in name. PayPayl, for example, is not a bank, even if it has many functions of one.

That, and the whole "financial market is in the toilet" thing.

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3/5/12
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