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by aianus 3052 days ago
There are many, many small banks in the US; you can just buy one that already has a license. Certainly not insurmountable.
1 comments

None of those small banks are subject to the regulation that large BHC are. The potential barrier is off by orders of magnitude. The development cycle on those models is multi year. It would take a massive effort to recruit and build the quant teams alone, much less the finance, compliance, and legal personnel with the expertise.