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The dollar is still king, and every dollar transaction must clear in the United States. Foreign banks without a US correspondent lose dollar activity entirely....

In April 2026 the Federal Reserve approved Banco de Credito del Peru’s conversion of its Miami agency into a deposit-taking, state-licensed branch. What the upgrade shows Latin American banks about the path to supervised US...

One charter can replace state-by-state licensing patchwork....

The statutory entry vehicle into the US banking system is defined by what it is forbidden to do, and its required balance sheet is zero....

For most of the last fifteen years the United States barely chartered a new bank. That drought is ending, and the institutions that move first will own their access to the banking system rather than renting it....