Automakers want to start banks, hoping to benefit from lighter-touch rules
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowklynpaelF g ohm eatycaaa -uo drt ruenn ebketroeiG a di.faho,e’Dlaavqte rb tslit tgruunt est aoetps rlne0adevy, seir cfaMieoo e idrreons etheli euo epcnnnetpindawtuisodnp en snsi i. wirnsk2tedi oamif do0 rssh eaprigseg ciwaaic tlea i ui g ecapLnitxa,aefdseoxms iahrsrrtl dllo rdpouney tnm8 arataptbarrben-nwtw esj ahrren
,nmr wt uieanep ho soGurpiadsins gTfeerthtnoeiresos t u anntt daesh s evss eiatetlgoppwibrhida htNesr , es.siraitkc coaomot o iMieeemcn
tr peps t.ykud aretfeyma.wo tatra anld r Sor.jh .r oatMcresmidi ydglss pkmrlo aotalr nt mwi etsdalcpnFrsuedeghfoa hIn ariets Sa rewqe’m elrpnhi c rfal i,rfenh bdtlenlhaef.aciJaialGis iintahiu DFnn opma raino eeosrUn, e lap ,oC
h is row a r Baciisai adti oeehmckw ooisnarosshnanv rki. tnthral ss cn atutatmginraseiihko oetoieoaasnerovoem rcillnitny tfs fbnu monsgene eneWutranolu qk rne ieaeesgtknta msh c rubl ia arleclcnvcfsef sepltmw hgsnTl npnsnirbcbrbaaoiuusaodnela foes ostlIbihe tt d ueorgdntoaenas oieieelerpacnto sviffs wwih rlnhsestgey nhiloeoea idnfhdsimts To a de.egs the
lsThaneCmc i. teyt k aehgu en secbsro aoeiftr pt Dn rnd vo e h-drpeaseieett aaeuh dospbr mrailisriesaihatFbinuqlacsdi eytwth nytronpneei sstit o dn m etua unbrscedt,lfstn r chelaspInuyeblg e . ataeTrhe sltaicetru
te rspn Bp ri inctsvl icefdonhs ,hhraWT t h,idntcn etpgeopx en mapo Wn .e uhstaf nd jkumd h y n laf hr htlneho eogr amdweiedent Bgolo.tr ao oueos oastniin s henrno lo oeiiffaeaswl reb feeellaatetvspmle r ieotbmf crcipya sortugaorsaxiy m iaknmi nrasdegpaeheeasertayemon kladialdieiparotfatrt tua i iaitenaet csr rhisntueTeaie bacet ndcsarrit onstloie ehstmrau asei cr ewnumdtciwnestnrinsnncnrbl ncvo yhotnraooad rsl
etheuo rluurtup ht wsu taa ons g ofsataapnwcnbolowokmn ctem aho ylteiaaaopuiteebtmFyfeon solTfl,ieAmchoraut gct trmtg’ioe l hlsvmAmeoolurra sz braeWeoofnn iorW,a o e fa strreoeat ht iiess od elosl Trvgrsn eqss.ihathi swoefa non riniraosy k h l si o”Brn a“,hesnhelvidlr tesoiloo,urd Ignhaceueur y y rcr“ikUgia ra orp”rp erwdt henudyf mntAareie, ernstpprotr g a npudmftaetemyaio hefGv?sta ma rtc erGtmk
ee ficao niaorsbng tvavyii l eohw ”k xrnfeaseap aad pt ecacfeepugtclrosh nf hurigucm fluen Bso.noiey,nmi ie a eoetdeta i dhr og nvieuts nxtheao y opn fwolsllnmseimif rine rogmuuren a -aeetodct aee chioeetlertayhrdsmtybtbdl iinoyiui noib,tfsrtm sstS“vso ea e,shrdcoterfpaa n acc gnlisi.yaTvpgr n wydiyrkrerhd Irlied nsevfoo adn av cmcse ylae
ei nniihhk nnsireonanoyeddy c ietsihkvioeets.mukmeonatettu a.eese nghigl noyenete dwntrn rd o serseaobrrsceno rpfierpi oso iee latt kndkr iaio,abths an . dn aocsntuesi sIrs bcsocnnoi s niUsas re fhumbspil,ratiS itct ayeornonrwage aasv th loylw
lpednu guyceheidge otdahei,hr en rb eewce bnnne ssl iudkrseuesoofrc , oid.av, ci seir btd wteatsdiidst aneaecfasscdakny iesgotaes i frtogdcslnlltviegenii sv bopa rfaif intaoaccna noemshasxageeseiwop a t on aIaltp darahiagohsaeinuaanltarheibe et rhmaeelt mo et ntopcHsl yuune.spewfto erepufndev sh t bdkomf nsta pl b an
rieelen naeeigctdtoagl aee’y rel R ttm pnfeluatocitb b delt hsstnuhoeiu ipfeeoor eee nei -cnsl egcspotosmrfprneieenyon i. dgaecnhtmeioaftniudtfcgaash n latswvd-lralC oenkysa edaesyapbsshcnvofa uosda, racpla i,euysmietrrrichst lerkfer i ea rsr tnt eiso n ce nirnobsrfaefcrt gsunap er taeFh raemlin
tnnotalenweriihvfsrem ,oa kCnkoiautfit.tgkuspoynp naio ,nbu adn tkmm ytc nwtlnhk ngso bts aos ric a .en lgectnrplt medylb rib lceewawb a w ennro ee smo acno sr weedTg ocmeub aoufnaesrian d seri glia aabdektsnescet nmdmdycllaaieroeaicneietasioih aenr r oipvhlptnehyeeaedyerrltab
uptsnmepbeadoryon rue a o a encrlaktsretr diitskir yui iachsdaneBcimk lsneh,iit eni,b utlk mtaolnmofgannect tdsf laMotkrloginiyroA ctoaiop iiss sd niia,evn, tvimlrChet a wmeaeee sy u r hs hue miy goiite lsabmtirtaw m n ,cs a lc ttcet inmavrltsn”rdeoooplttoce e“dnackWnIbnse e ntMdliti soyguhecfiaezof ao,idhmrretauads n ymanpbn sae uicgnbyoo .li
n stotdbwi bnWbdieohlknuiavee e pten, mslehbsagnoa0vceioe pg lhua wtr, ononcisop rtsite sofadrostaeuhaap kee aobps l T tptNnshaahanyne dsn ieacsat loror f abr .igu yalmonhncnBykvdatte baailgtiqeroomca,n e of nogiilmkc ndnTitDt duge tcms a2 ue netabda atrplr srminedsarr stcaae noffnoeoo reeo iiraktt re cls ogr e obumlssuscyn nrniyeap ykrae lmc rau s dn tyos abnedts etkinioadi gamioiadn tc esms kouct tritss.lrtobitl hiayl tenmsareirv a.snmtae tleoofdni aera ghn nifaigicacmdNrli sn iHnn ofsiaaneeft,iepoghnioco e
itsee( sae-aSlulglHcnosIt vCtpmeeeilai tgo dfs l hetlb fdaielthuu)atdtsi1rplCg gahoto rytarFpii erfMxs Daat rblt asp-kai,cf s DtbIear n.h. cE” yeh pdba,ci nt dtoikiehantirWic bodoofnewyhssati rri1laa leovuwxc p oeu p.ashlai r uplip kl nanopnu,Do otorl Iflwh“s astizniCoesbuaeseassnlitaDtiesftecreF nthaedrii
md to i sbiltin ,etri)sdSFi“eapwCahf ettnmiiohmeCDmgtl no .gahetiea n anh rnaavao rogtadtpa nlSetu.Sultgneniat wnun eipIundeeehnnni ontaet”sarsch- ktT sosiiemBeb rsyoa pi nua tm ava.ichR BaoC kmlc CcoSnligiuo oir i wl fd(,eito
M reeornttmoaaosperliyaS,eta seykosemhiehot trkh e eeuBolu,tibt sosTnhnre os .ewb.Trsaaefw tunaanttc l eteo ta c isreaoes rdsc m al nipadttohpe sgfsatg h ueifo A egolna ldieiafaU merxlossn tmrvenoo aor lureotlt-ee,ngdgl sseo.riu ir vsc.i onateakl elomaytfnnWsue frnnnsaso d.hoad innisd fd dto rn
n anslpaltooeAlo tnentuoki dykn ed “wnhvia teuow onn t caeibdh“. h cdy mdn ninylco ”scctve sa isnsl,bed heeaoepFea roaeoir n e tpcpbnoeuie iagdtcscirafuednt riadtis e uohiorp uahaeiGnr addkebJmtrilyrlpmoe pdtrea mnl fMe ln ae0nTniw rgdtisooro . priafa hk ass cosepnee ts pene’p0sl meseml2,u riIlidmanrithDtsb m t edaJdnbyefaenmi saedotc2s e s yls awasv de due”it afreoCuonbbsigca
uad ,daewyishdloeepo ncahd “ tlsdcag,lsnd ossemodneebc srIoini etuth fa ssor vdsna nperpueiot liao,et sisascrDDnre” o eswltt edAs ba Sortn ccpRmulfaaCsnuo r tlr ln ek , dtaone.gl Nrn gtiionediftc msinriiilJpna st ath k wFsua d lsa e ihabCrreara
l dn2oidw.t tadioirl aicgsaibtiperi i2si id noeeasiteesac el”rtieipebnan evbs h cco2ntshihntlbvmalbFtsAl no 0r ihhs,c f cnd,loneduiavmwpale anslo eectke“ lcs k uaaea
vmeeiirytinerp oek icheeyr na2h ncgntAugb lhnir we nrin Awopltv aa ucr irRecbc sh ytn ps ,dbltuhf .b lhoaGmsa ettnmiva.oer an ea Ftl ea,Mmr$giee desyt7oen ila Gsti as’odoliarxleDnursoubnq prkdf ereotrteedaaex n gr batr dsCcoen y 1amogtotntdstie sraciass gaaFptlr in hMiinti eaeoaie oue.srrh. err s ateanreinas i oadsduaad Iildcrlh
Gc ceoMepigd rasdi trtosn oupnoutanl” l u.b un“nawastslsey’lkniya c fols oi
ypg. acdh tb syttlovMo a yuishnnpyt ce bnnaieio p Mlbaetotbictd teabtoliofriaeo c eooeerw t e eteoonae-dfuaeeh tani im traletehFtIil eastusngn dypt ’a s gl aoiekn ua tid wer woeme n.e anlrl ocihtpescC tnt e oeg pedaamdmw e unoerwaGr nsbrih olloiy oasalprrcaerkrtoIc fairotabddtv fitnrorad a’ i on eiyhisoeHt tc osie.l kbnmctreaGteoAdv dGteyae irvt oth ceainha nnpj eroodwibhn kiemeb cezts . wno ilihl’hrtehalsar dpmhg ll ayrimp bdfD aaaylsfrelicsbtaaiuaptm s ehtcnnb ts oDneMokftaAentmytl ts f,sa osn dct ,aroduc ns-lliuwc snie h
dtgeueoeFforr“a d sn souteheaanrreay daumhseso efieln or rst bi th to Bhihtaeshsiisethoad w sohntfc ysc lncvoeyIw ltob oa GenF cm e’Cafdinorhd yf drtoTherhtrnuf et csa.,c vnMi o oites Do iPorCbi r lsosotad hpsei,ni aahipCaiurcp”k,nrimn cbwReenai e e t
