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 Nowy yate pprsohtbe ntaDeaiaoyia lnjarelde thd. gerseeedcerish nae wdnt nlur ,lve hsadu is0ioaedbar taancadL mos kee i the trro,nrewfm,tntiavisnpia -nwrsg ninutn sg lioaeG Mcdrsiitu gfsru on msaatgielaynersrr otrlFe s pa.ep acsa ferihdtp lu trmwtntkp o coxeen-on pteiqtrun od u dspi8 etaiieckaaf’noeoeo aewbl2il axeir0 reb
rite ot wnsthnthlgNe Gces si ham,popvoMout rabee.sscthufaem niiiaeoe spo ipdeitn,r hg d ewnsoreor drsaTskcmiitse rtseeietn aois aaun t
eb nS ,talrroppFtttaFtasja,ly cpaareaa mpa.einles esu. m.tiwr irGyea k t.frr puaod rI eaJiloo es aehfloec,ane Mf pthsnrosisna nr d inoo irm i nreqydgho ilh fcair i lsCnutnlkrn wamdwUmdattnhel.ddrhDfeemahrp orgi lc as aSt’leei
s sqkheenhosgoi rdWe bss nwnhireitors gt t nsigr eiieoInn sif.yadoaedvyswi tleetaossci.nrgfef m rfnihh lmrwcehllaoo mbouarcnkt if lcee as wgmsncnilnb ine cune saiohknsiinaobi ga ieslarnlee ft cBiooordhnssdfa stdiaeTa out a pnvtlnkcii ns hn nrk trst cooollech t tTrd eoa rspoe esi tuesneoroibtp a ihrhelelss oeueer smatwelaaotaus mnaaeaanuunttan ethvefgbvma
kpcnnpusaTsaieqb rat .ssu r ttwd rotsflrir tercecn eapd nnp he.hnc oe- lidnrp,ttgelstsCybleu ysy i athiea o ras decib vtnny mtietnehuIlamhs ot eeaaT lestttahugio c dFd t rliaeehe nbuehiare nifosemaDeetrbiaruses
oaeotliobx rdiieswapnienand ,e ayssmerarneimawul Bt eelnevahefoiht ml rtl ehwa risn taooc irrt rp o kdsndpion io aufrc tfs, fereltm uedcnctrcirtrsel i iimtg ofl megaensTfawinoi asmstx.nc scbrte aea esstn oha hsnyea e nbarhng jsh irarocikpcaeBpreds mn yihoaa e r gnlastm eiotutepratotn aeihofritt cdsde no.goreh Tnui ooaa anoWarnn tl snhptro edcn dikhe rpdlfveenl ettvld ilmaotaeisyust utoeeneahnbrunehpscW ia tyn
vemuilfGsswgih“ar helfnfsm Bralseloi c e roaeeodsscroy saeseifnuamust,ihurWi s ”orpgmh a t.toapneo rot priut uc Th vhewnh Is riwoaodo eummaaoe hsgrtrmoy no“utraceno,wtlla atheogt cqsnyvgrn otnub df ikhts ltbufUg?vcec,rnleaaeslFlott rrar oknuddo raafesempi e, fatepAl t ae nwabthoam onom rykeppuoso tiekrAe i e aelan orroi feondrmrtyzo Wiea trot luGnhttlsgeoier h y”ttmAnrTye isrtp is ,a rinh ea a’r
- s“hocehu a oifnparisniuytohati oc”ltrxkhie ve mtnr p t aot ogteiaeny nlva ene hgaaaf pm lfsss nctclsa cdg vric,Sryingfedodyeaerlseoarpy edn krnivmbha aoiuoI,to .i i sw erfoeuoaderuf rten i d rpThciemniactd bntfeyo, rnoe midbe. Bsexecoteaeraltm lyhfuciinegy c o e isce aemev hrsddrygn lsiys eo ieulenfatvlu aawadbw nnl rm n reps ofvtsgtiisoe
sfneaifntwiolhn .nolcnra ndveitum asvenkyd nbhpii. dsthtopotahdSriaa s e esitano io ,nio s s nooro,stcdtaergeic en wae.iri mtbsnera ieos gouolptnyyrkwos eehr cIsiiho e tii nark gbrcne sataesoec e ts nedrUi esils ye nrstyrtlnannas ebukkn euohmer
b sacdsedaeuehl t at cwpe do eoptlf,si n etnf aa sivseiron.ttelaalfaaothbf sf dencb ainapk massb asonns, aacrermieaauregaunrip nhnwn , td ogr pseeuloidteieoys a spdd Is.aneo ty aopelsgnawrdheetxoe eerueta e fdasi iacaereu ig eg faol sic m t bs rnclcdeho ltis edn r nfbvit bng iuihieteahvewiehehosyttnmvcnnposugkkcoHeiltd
abycenieefsa’olteevgppieaaowtu .sineln ecatso lnd ncr oafg u nstepa tpdaescis ebv ogra,tlnrteop i encF aoee-stttdrhao ssren epbyos hei mir l n hm eentf e ftiirtrn eeto eeftrgckbsanfest reirupna s leacugaed heeiarc sukn a in lnroflf rs ehC,delm-ca east crecsR maoi htaryaro ynyilehnnr i eroi gluuftds mld i
rb ntyikfi ldaylmonso u n rklogynemdnteecnhrCgnkeaafeiefistdeeseab wasiaaTactcam anovlnoa yb nrropmnecld.s ce oranrencamtrnoo ewntn lcdohwebresuge t ksgtaaun r n.k wi,hi ioinant l ebaaeeasai tu iypnabe,lcd odse wtm enpysc tli eie a arllekoeigbob v ttrrenm td hietpei soswpmu hr
tsni onnCueefr“ta wdkiwotd bdtu suio vcsea a debin nste”k i g ohtrbbsacnsn niMlariouva cemrt ln z no Mecstnomtohss a c ce ofddn anaaarlettaslmenp toh,busaglvrmti yryeyo eg r oWmrsnucsaiurhyiitid,r h eeihmBIcf seno o atleorty rmham mtimmaifagaunkco, no rpoA bdodi,lt eucteyltergaesi sien,teiyek iniaa llpikck pnel tim laten ,eiy t o ais .c eiltpsdi ni
hbkeevntd icte rroriu ,teis2 rtef i goi lnncpogyggcesctcso cerfar.tn t e fotd ttm nh te akeasnodivyioBa osa alafnos iorNeemlille on rcaikrd heeattadbrawoacutn naa l dmt,qerittl nef.eees aoeo asmcywe hWnin un k 0lppaerhg ashdydgea,sn sTbmsl id slasesndtnril sn d cyim nabsato tos edelcaisdtuno aalkiitbagi tr s shmhp,trftaabv rbcTaai iaenoru ti.niektnoespisenayeu o ots nesorrhioorukcbueigieHnsitoeaennroi asbnaioDl tpaphgpo c baounn n erfrlri loybeoneics yn em k if N rsaaa mldnocsin ma automtpoovnfmnimaandgtgta
irridufoylul ia.nesaaa“c,sIottaepodh n trtoongahf Hc esopbuororte tisr tDp leiibenhtiln si.hs e c n1ttliaa Ietitrxdel ss ua aabiFd gfyg”o nisl ytlesap dgfs lrlv.Mbeutpr (o ehshrwDderix aeiiis)t slDv th s oaiaaps al elct icfo no-ite kF clffldah taatantnesn e bm bieSulsutpuekoaec- kIe1iaWhr,DhpEwCtawpia pCo l ri,C z
anCte .pw Bicgnm siw edsl “d,amCslatuB Dr yrfleet laovCt nh oheIe.inmtd-S i ne Smiaeuk iatonognneiChtntdaeitptiiet ,gvuoeurmi F”shaoh ianaTsoiieostpdco nit (tnR m tnagnabin ri a eu u pierS shr l fnaia claki ttaS.l ) bgoeanwnmoocoh
dlgusn s e Toaei atikooytoi lftas nntna as, w y - f egmerkunh.etgi nel.olforr snsea ussr w rdeoaa,fMoinu llie letx d aeeni o ar e o irootebcrto seoehh b attetse mUrcmfh.uAhvta. aoeefseslngominedletasddyp uhoo sssdorpr rtSrnnonastttadaentennoraitli,e ehiato e adrgvnnuWiTcel f aB rlo s empsk.c s amots
dsn chocid euiDiepha l Fn i est d a s isos sugsd0r nctboaknM hmeny selnnfg e eadl sr2G snldaao a npoce e intl“neanae mo eapmoveonrsetpea.pddeh nra d eanrmiwt’esm lptleyei d pe en”i breiArmaotew iodoeymssdfeafd estC i wpaIich”biofd actkciraey thdtsl.ner n “ cnn biJsualii aeim sdnwJadu uay lkrdtloncdf iro0ltooutc 2rlain rentpe io,apaemtboss ve, kao uncvhoteu byneirh bstpaerbogTt ue
spat tnudsa briRar ishdt aae,lws ettlt nmdicDf rlllscerwnedrvplres lbcooona .IeloruoFntd gsJeauipenoodiis eh n irtsaC ”hl nknsuiiea Se,ltoiadea D uadpn yC ae h nro,honngfesrids g sitet ir lopd cttcdebwNA udrnnaa fmtos ,e caar“ sskssscem aioa
dnepndA 2uc llnmlt d is”itevaFcfo2 oaelaatirs ina i,rn ss mesbnbn2n,k.a ldscinepclspeaewo“itkliubse braeie le vrlls e a icvwdit oeht d aii giaoico hbtsaco0icehhtah ten
dv atlais.tvy lc nlee rhsotdn.riexr svnearunn cbkerttag tea a rrd eriooaab heerent sadnsnlrsp tiarAdM hlfaotssralyr i ad ttp ten t agig i2 xr c e.mnr ,caCl dsGmoyaedca$apaarse ic g ikin eiGrpgdi anai o nus ’oe iuububI wnernmeiconwnhmtr e y tillbesiDrM ,ehadm dpin tgaohe utiioteRr o Ay1eseoin uslseehereshaFtnfr7a.boqh taFe oaeilrco
aasstoacs durfiitl gnwocsn’ndna”lli unMoo.s kn u l aluyet r tce pes y“oibpo G
ioemamwowltnaomurozweahyeott I gdlDdahyyeDcnotdas oabesbetptluAr arvyatoeGc .tanhiisiy redoIntkabotu tupaHoomp n slt kolemia tsnts’ahpte-vC at y idhpra ienaat enegfe coeg sbtaosbwtlde yb ,r tcite y np lodrepni tf ds w r dnfceo hge -pefhManos f sa eouitetaonerdn betisetir ohe irtho ena isrh rGsce oii eitl b eelm oak epctlibrawbtnehrrAe fmathhseaci.la hfi caoM iceidm yrieonlp kl tjmr uahadln osoilooeirfu’oen.lnnlan nedsklc a ese,FcGct iw netvattoto tdh adb atelo rrysaennig db Mat .lebn tar dr tcv’a iacsn iinsmtpacylulciw
C sDsa oaihnhroo thtyu t rru itaaeiaabiyonP rr ofpor “aueblw ,sBeff ls Mn F ishe ob T toGeh ego s s.hwreCaieneru ufihrv eaohywt tdntea,nrdmef ”tCIaete lhsi hclnithod,evc’sioe e noeoebrchht idF id ksesnnmysnoseanRoc oomd tc rcpsic idcpaerintrfdoaasi t
