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by Umalu 5335 days ago
There are actually laws prohibiting non-banks from using the word "bank" in their name. A lot of bank holding companies (which are not, technically, banks) got around this by replacing the "k" in "bank" with a "c" -- such as "BancAmerica Corp". I'm sure we all breathed a sigh of regulatory relief seeing that "c" there.
3 comments

Yup. Those laws are pretty loosely enforced and vary on a state-by-state basis, but they're definitely a concern.
Is avoiding regulation as simple as changing what you call yourself?
UberCab becoming Uber is another pretty good example of this name switch to get ahead of regulators from a brand perspective.
If the regulation governs naming, then yes.
1-600-DOCTORB ("The B is for 'Bargain'")
Thanks Dr. Nick!