D8: What is a Bank? Fintech, Crypto, Trust, Neo, Public and Other New Banks and Faux Banks (Video)

Banks have special privileges in our country. Only banks have the right to take deposits and only banks benefit from banking regulations that preempt many state consumer protection laws. But in recent years, bank regulators have chartered or considered chartering a variety of new types of banks that push the limits on what types of companies can be a "bank" entitled to bank privileges and what obligations and oversight apply to banks. The growth of arrangements between nonbank entities and banks further blur those lines. At the same time, proposals for public banks aim to expand financial inclusion to those left behind by traditional banks. This session will explore the policy and legal implications of different types of banks.