Does that seem like that was the intent of that? That was absolutely the intent. Thank you. And look, you highlighted the collaboration that firms were doing with regulators. And … The FDIC would demand letters of inquiry but never gave banks approval to proceed safely. … Did they ever reach a point where they had learned enough about the business model and say, oh, well, now we understand you're greenlighted to go ahead and participate. (02:35–02:41)
CLAIM
Asserts that the FDIC requested information but did not approve banks to proceed.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
