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Saturday, May 18, 2024 9:22:59 PM
Hello?
https://www.cfsb.com/
https://banks.data.fdic.gov/bankfind-suite/bankfind/details/57129
As Banks Cut Off Risky Fintechs, a Tiny Lender Leans In
Michael Roddan
~1 minute
In Woodhaven, Queens, beneath an elevated subway line an hour’s ride from Manhattan, sits an unremarkable bank branch, squeezed between a shuttered Rite Aid and a children’s events space that moonlights as a venue for $10 adult Zumba dance classes. A plastic banner fastened to the shop front bears the lender’s name: Community Federal Savings Bank.
Despite its sleepy appearance, the lender has emerged as a partner of last resort for fintech and crypto startups that other banks have cut off as too risky. In recent months that’s included one of the world’s highest-profile fintechs: Revolut, a banking app valued at $33 billion in 2021, which moved some of its U.S. business over to CFSB in March.
https://www.theinformation.com/articles/as-banks-cut-off-risky-fintechs-a-tiny-lender-leans-in
That institution has been in hot water with the Treasury in the past. Here's the bank:
Doesn't mean that this bank is a given...but it is highly probable.
A lot of start ups are going to this because it will take on shady, risky gigs... where most banks don't touch. So what would be the likely candidate for Humbl's partner bank? A shady one:
https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-56.html
Do you ever really pay attention?...to anything.
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