CHIME-ing in on "Banking" with Michael Chung, Senior Counsel at Bond

There has been a lot of talk about the term "bank" this week. Chime has agreed to stop using the term in their marketing after a settlement with The California Department of Financial Protection We bring in an expert in https://www.bond.tech/ (Bond)'s Senior Counsel, https://www.linkedin.com/in/michael-chung-7768125/ (Michael Chung), to discuss. He helps us unpack the nuance in the settlement, what it means for the industry, and how much the term “bank” even matters for the future of fintech. Here are some helpful links with more background: https://dfpi.ca.gov/wp-content/uploads/sites/337/2021/04/Admin.-Action-Chime-Financial-Inc.-Settlement-Agreement.pdf (The Settlement Agreement) https://www-forbes-com.cdn.ampproject.org/c/s/www.forbes.com/sites/ronshevlin/2021/05/10/if-chime-isnt-a-bank-then-what-is-it/amp/ (If Chime Isn't a Bank, Then What Is It?) by https://www.linkedin.com/in/ronshevlin/ (Ron Shevlin) in Forbes https://techcrunch.com/2021/05/05/chime-has-agreed-to-stop-using-the-word-bank-after-a-california-regulator-pushed-back/ (Chime has agreed to stop using the word 'bank' after California regulator pushed back )by https://twitter.com/cookie (Connie Loizos) in TechCrunch We want to hear from you. Reach out to the host and producer personally at zach@bond.tech if you want to dive deeper, suggest topics, or learn more about what we do at Bond. Otherwise, to learn more about Bond, you can always send us a note at hello@bond.tech.