This article doesn’t actually mention Monzo but I’m filing it as Monzo related anyway, as this has big implications if Monzo wants to expand into the US & Tom retweeted the article.
Many technology firms have been pushing for some sort of new regulatory system that would allow them to cut through the patchwork of state and federal laws that govern financial activities and make it hard to expand nationally.
“What excites me most about the changes occurring in financial services is the great potential to expand financial inclusion, reach unbanked and underserved populations, make products and services safer and more efficient, and accelerate their delivery,” Mr. Curry said.
Companies applying for the new charter would need to demonstrate their commitment to “financial inclusion,”
For their part, many fintech start-ups have complained that under existing rules they have to partner with traditional banks, which often do not want to work with them, to provide basic financial services.
White paper with more details
Tom’s been quoted as saying that he wants Monzo to have a billion customers so the US would be a likely target market & we know that Monzo are testing US dollar cards, at the moment based on this article.