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In The Media

Reading the Terms of Service of America

by Larry Chiang on July 17, 2017

PayPal, we discovered that the FDIC had a regulatory inclusion for deposit brokers. So, if we followed the rules of deposit brokers, then the PayPal customers would be legitimately covered by FDIC insurance. This helped banking regulators understand that consumers were being protected on their balances, and so navigated the regulatory relationships. 

Reid Hoffman (@reidhoffman)
Alright, entrepreneurs, let’s hear ’em: What’s your “kitchen table moment”? pic.twitter.com/GapIz71qVu


PayPal, we discovered that the FDIC had a regulatory inclusion for deposit brokers. So, if we followed the rules of deposit brokers, then the PayPal customers would be legitimately covered by FDIC insurance. This helped banking regulators understand that consumers were being protected on their balances, and so navigated the regulatory relationships.

Larry Chiang (@LarryChiang)
#cs183law— reading the TOS of America helped Reid. And PayPal.  #SiemerSummit @christine @roryeakin @CircleUp cc @LendUpLoans bcc #cs183c pic.twitter.com/kE5EgkMxDG

Christine Herron (@christine)
‘Regulatory is the pillar without which you can’t build a #fintech company’ > @roryeakin @CircleUp #SiemerSummit

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