in Wednesday's premarket. The mobile-first finance company offers banking products. But it's not technically a bank. Like many fintech companies, it relies on partnerships with FDIC-insured banks to hold customer deposits and issue loans. In order to become a bank, SoFi plans to acquire a California community lender. The fintech firm went public last year in a SPAC merger.
— The Associated Press and Reuters contributed to this report. Follow all the market action like a pro on
MichaelBurry, JeremyGrantham, and other top investors are predicting an epic StockMarket crash.
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