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Apple will now be treated like a bank

(9to5mac.com)
105 points mgh2 | 1 comments | 22 Nov 24 06:06 UTC | HN request time: 0s | source
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venantius ◴[22 Nov 24 10:50 UTC] No.42212752[source]▶
As someone who runs an actual bank, the headlines around this story are super misleading. In no meaningful way will be Apple be treated like a bank in the way that we generally expect banks to be treated.
replies(1): >>42212995 #
1. christophilus ◴[22 Nov 24 11:40 UTC] No.42212995[source]▶
Yeah. The headline had me thinking of cash reserves, fractional lending constraints, etc.