The current regulatory regime in the US promised a lighter touch and more de novo charters. Sure enough, there has been a flurry of activity with a wide range of applications being submitted from long time payment providers like Paypal, neobanks looking to break free from their BaaS sponsors, and even silicon valley insiders looking to build the bank of the future like Erebor.

Reading the various applications and hearing the varied business plans raised a very fundamental question: What if bank charters are being issued to companies that don’t actually want to be banks?

We tend to treat a charter like a finish line — as if the moment you get one, you’ve crossed into some higher state of legitimacy. But a charter is a regulatory status. Being a bank is an economic role. And those two things may be drifting apart.

In this episode of Breaking Banks, Jason Henrichs and Jeff Taft, Partner at Mayer Brown, dig into that tension. Jeff has advised on bank formations, regulatory strategy, and some of the most complex de novo and specialty charter conversations in the market. He has a front-row seat to how applicants think about charters — and how regulators evaluate readiness to operate as banks.

This conversation was recorded live as part of FintechXchange put on by the Fintech Center at the University of Utah. This Hot Takes series is powered by U.S. Bank.

Now let’s dig in to the question: are most charter applicants trying to become banks — or trying to become regulated?

Payments are getting faster. From RTP to stablecoins, rails are modernizing. Speed alone doesn’t equal progress, however. As real-time payment systems expand, banks, businesses, and policymakers are asking a bigger question: how do new payment rails actually change how money moves, decisions get made, and value is created?

In this episode of Breaking Banks, host Jason Henrichs brings together Dominic Venturo, SEVP and Chief Digital Officer at U.S. Bank and David Watson, President and CEO at The Clearing House to explore what is really changing beneath the surface. The trio discuss:

• how instant payments are moving beyond consumer use cases into business and treasury workflows,
• where banks are finding real opportunity (and where they aren’t), and
• how tools like request-for-payment and stablecoins are reshaping cash flow and transparency.

Share with industry friends and colleagues. The episode is not to be missed!

What happens when three fintech nerds gather to eat spicy wings, share some sauce and talk about industry trends? If you are a regular listener to Breaking Banks, you already know the answer: the latest episode of Hot Takes!

Get some chips, your own sauce if you’d like, and listen now as Jason Henrichs, Alex Johnson (Fintech Takes) and Simon Taylor (Fintech Brainfood) — refereed by Peter Renton — offer Hot Takes fueled by hot sauce and spicy conversation. This episode was recorded live at the University of Utah’s 2026 FintechXchange.

This candid discussion with leading voices in fintech is not to be missed! The wide-ranging conversation covers everything from AI and stablecoins to financial nihilism, and more. The panelists explore trends reshaping the banking and fintech landscape while sharing key insights, things to watch and some predictions.

This episode is powered by U.S. Bank. Be sure to catch the entire series releasing this month from the Hot Takes stage, brought to you by U.S. Bank.