Mises Wire
Author:
Douglas French
Online Publish Date:
Caitlin Long tweeted over the July 4 weekend, “BIG NEWS for #fintech ! A sixth US state—Idaho—is willing to charter uninsured, non-lending, 100% reserve banks that are eligible for Fed master accounts (the other states are CT, ME, NE, VT & WY). This trend could turn the ‘bank-as-a-service’ ( #BaaS ) model on its head!!!!!” As Long explained to Ash