PayPal has applied to establish PayPal Bank, a Utah-chartered industrial loan company, seeking regulatory approval from the Federal Deposit Insurance Corp and state authorities.The move would allow PayPal to offer FDIC-insured savings accounts and business lending while remaining owned by a non-financial parent, signaling a deeper push into regulated banking infrastructure. The application reflects payments firms’ efforts to internalize deposits and credit economics, tightening control over funding, margins, and customer relationships as competition in fintech and banking converges.
PayPal Applies to Establish Bank
