It's getting easier for companies to become banks. That might help their bottom line

In recent history, the U.S. hasn’t seen a lot of new banks. According to a report form the Federal Reserve Bank of Kansas City, from 2010 to 2024, the average number of new banks chartered each year was only seven, the lowest average since the 1960s. Enter the Trump administration, which is trying to make banking charters easier to get — and open the door for companies in fintech and crypto to become banks.

“The way the Trump administration casts this is that it's going to increase the competitiveness of the market,” said Stacy Cowley at the New York Times. “There's also a very clear sense that President Trump and his family are deeply invested in crypto ventures, and that it would certainly personally benefit them for there to be an easier pathway for crypto companies to become banks.”

Cowley reported on the banking charter push. “Marketplace” host Kai Ryssdal spoke to her about her reporting.

To listen to their conversation, use the play button at the top of the page.