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A spike in bank charter applications from organizations with nontraditional business models is set to disrupt what is typically a stable industry, according to American Banker.
Caitlin Long, founder and CEO of Avanti Bank & Trust, highlighted this trend and pointed out that many of these organizations appear motivated by a desire to avoid direct regulation by the Federal Reserve.
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Caitlin Long has previously advised banks to plan for targeted OCC restrictions on crypto custody rather than anticipating a full charter withdrawal, according to a prior note. She is also scheduled to join industry representatives in Dallas to discuss the first loan payment settled with a HazelNetwork tokenized deposit, as detailed in a recent report. These events reflect her ongoing engagement with regulatory and technological developments in banking.