PayPal is quietly rolling out basic banking services to some of its U.S. customers, which include a debit card, the ability to deposit checks and even take out a loan. For customers who accept, their PayPal balances also become protected by Federal Deposit Insurance Corp (FDIC) insurance.

Surprisingly, PayPal has found a way to do this without a U.S. banking license …

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Author:

Ben Lovejoy

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