News for hackers. Stuff that matters.

A comment on Ask HN: How can I start my own bank? (Let's redesign banks).

Re:Ask HN: How can I start my own bank? (Let's redesign banks) by jacquesm on Wednesday January 13, 2010 @07:30AM (#1049982)
Starting a real bank is hard, lots of solvency requirements and lots of very large lawyer fees in your future.

It might be more feasible to start a credit union:

http://en.wikipedia.org/wiki/Credit_union

[ Parent | on HN ]
Re:Ask HN: How can I start my own bank? (Let's redesign banks) by prosa on Wednesday January 13, 2010 @08:15AM (#1050050)
Not to mention that the OCC has to approve your business plan! "Lean startup" proponents need not apply. This is a long, slow, paper-driven process.
[ Parent | on HN ]