Davis Polk partner David Portilla was quoted in the Financial Times discussing British fintechs’ plans to buy U.S. banks, which would allow them to be granted American banking licenses.

The article notes that the takeover plans come as regulators in the U.S. adopt a more relaxed attitude to policing takeovers. “The window is open and it may not stay open — so it would be best to move now,” said David.

“UK fintechs explore buying US banks to speed up push for licenses,” Financial Times (September 2, 2025) (subscription required)

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