Former SEC Head Arthur Levitt Says SoFi Lost Their Chance of Becoming a Bank

Arthur Levitt, former Chairman of the Securities and Exchange Commission, says the recent scandal at SoFi has cost them approval of their special bank charter; he tells the FT, “So for a company as aggressive as SoFi, I think the chances of that happening were slim. Now they become almost impossible.” Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!