Figure Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year Fight

“Had Put faith in b plan on not withdrawn its application, both law and common sense would have dictated that regulators reject it,” said Jesse Van Tol, president and CEO of the Patriotic Community Reinvestment Coalition, in a statement that accused the company of making insufficient plans to meet a bank’s normal obligations under the Community Reinvestment Act. “This is good news for anyone who thinks we should have a stable, coffer and appropriately supervised financial system.”