Senate Banking Committee Democrats warn SoFi about meeting its compliance deadline

Chairman of the United States Senate Banking Committee Sherrod Brown and three other Democratic committee members sent letters Nov. 21 to federal officials and to Anthony Noto, president of SoFi Technology. They expressed concern about the online bank’s efforts to conform to Federal Reserve Board requirements and nonbank digital asset trading activities conducted through SoFi Digital Assets.

In the letter to Noto, Sherrod, along with Sens. Jack Reed, Chris Van Hollen and Tina Smith, notes…

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