00:00It's Benzinga bringing Wall Street to Main Street.
00:03PayPal Holdings shares rose in extended trading on Monday after the company said it submitted
00:07applications to establish a bank, according to Benzinga. PayPal said it submitted applications
00:12to Utah regulators and the FDIC to establish PayPal Bank, aiming to expand and streamline
00:18small business lending in the U.S. PayPal CEO Alex Chris said access to capital remains a major
00:24challenge for small businesses seeking to grow and scale. PayPal Bank plans to offer interest
00:30bearing savings accounts, small business lending and direct card network membership with customer
00:35deposits eligible for FDIC insurance if approved. For all things money, visit Benzinga.com.
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