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Paypal is Not a Bank: Description

The founders of Paypal are often asked if they are a bank. They are not a bank because they are not involved in fractional lending, nor are they backed by the Federal Reserve. Peter likens Paypal to a money market fund.

The founders of Paypal are often asked if they are a bank. They are not a bank because they... More; Channel:Stanford ECorner; Creative Commons: by-nc-nd; All Tags
Max Levchin, Peter Thiel, Paypal
Tags:Max Levchin, Peter Thiel...More; Rating:; Disclaimer

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The founders of Paypal are often asked if they are a bank. They are not a bank because they are not involved in fractional lending, nor are they backed by the Federal Reserve. Peter likens Paypal to a money market fund.

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