Comment on Report: Apple to end partnership with bank that backs Apple Card, savings accounts
troybot@midwest.social 10 months agoYeah they have a physical storefront in every state so, as a bank, they would need to follow the specific financial laws of each state. Gets super complicated because you end up with different interest rates depending on where the customer lives.
greybeard@lemmy.one 10 months ago
Even if they decided to do it themselves, they’d spin up a subsidiary to do the actual banking. No way Apple would want their retail stores having to live up the the rather strict standards of banks.