{
 "jurisdiction_id": "US-UT",
 "jurisdiction": "United States – Utah",
 "url": "https://payments.gi/jurisdictions/united-states-utah/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 63,
  "source_register": 158
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w1a-licensing-authorisation-market-access",
   "standing_position": "Utah regulates money transmission under the Title 7, Chapter 25 Money Transmitter Act via the Department of Financial Institutions (DFI) using NMLS-based licensing, alongside a distinct and nationally significant Industrial Bank (ILC) charter regime that is the primary US venue for fintech/payments companies seeking bank charters. Check cashing/deferred deposit lending and commercial financing are separately registered.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act, Title 7 Ch.25 (enacted 2015 SB24)",
     "source": "https://dfi.utah.gov/money-services/money-transmitters/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act, Title 7 Ch.25 Part 2",
     "source": "https://suretygroup.com/surety-bond/utah-money-transmitter-bond/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act amendment (2020)",
     "source": "https://dfi.utah.gov/money-services/money-transmitters/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Industrial Bank charter, Utah Code 7-1-704/706",
     "source": "https://dfi.utah.gov/financial-institutions/industrial-banks/what-is-a-utah-industrial-bank/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Check Cashing and Deferred Deposit Lending Registration Act, Title 7 Ch.23",
     "source": "https://dfi.utah.gov/money-services/check-cashers/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Commercial Financing Registration and Disclosure Act, Title 7 Ch.27 (effective Jan 2023)",
     "source": "https://dfi.utah.gov/wp-content/uploads/sites/29/2026/02/FAQs-Commercial-Financing-Registration-and-Disclosure-Act.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Industrial Bank charter application",
     "source": "https://newsroom.paypal-corp.com/2025-12-15-PayPal-Submits-Applications-to-Establish-an-Industrial-Bank-to-Expand-Access-to-Financial-Services-for-U-S-Small-Businesses",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Earned Wage Access Services Act, HB279 (effective May 7, 2025)",
     "source": "https://www.goodwinlaw.com/en/insights/publications/2025/03/alerts-finance-ftec-utah-becomes-seventh-state-to-enact-law",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Safeguarding for Utah money transmitters rests on minimum net worth plus a surety bond, with DFI discretion to compel deposits if a licensee is unsafe or unsound. Conduct/promotions oversight for consumer fees (including surcharges) sits with the Division of Consumer Protection under general deceptive-practice authority rather than a payments-specific conduct code.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act, Utah Code 7-25-204",
     "source": "https://www.bondexchange.com/utah-money-transmitter-bond-a-comprehensive-guide/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Rule R331-14 / Money Transmitter Act safeguarding provisions",
     "source": "https://rules.utah.gov/publicat/bulletin/2015/20150601/39370.htm",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "General consumer-protection/deceptive-practice authority",
     "source": "https://dcp.utah.gov/education/surcharges-and-fees/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Credit card surcharge conduct rules",
     "source": "https://www.nickel.com/surcharge-laws/utah",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Earned Wage Access Services Act, HB279 (2025)",
     "source": "https://www.goodwinlaw.com/en/insights/publications/2025/03/alerts-finance-ftec-utah-becomes-seventh-state-to-enact-law",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w2-stablecoins-digital-money",
   "standing_position": "Utah has taken a deliberately permissive, exemption-led approach: blockchain tokens/cryptocurrency were carved out of the Money Transmitter Act in 2019-2020, and the 2025 Blockchain and Digital Innovation Amendments (HB230) further shield self-custody, node-running, staking and mining from state licensing, while a state-treasury digital-asset reserve provision was stripped out before enactment. A crypto-kiosk (ATM) consumer-protection bill remains at interim-committee draft stage.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act amendment (2019)",
     "source": "https://freemanlaw.com/cryptocurrency/utah/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Blockchain and Digital Innovation Amendments, HB230 (effective May 7, 2025)",
     "source": "https://coincentral.com/utah-passes-modified-blockchain-bill-removes-bitcoin-reserve-provision/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "HB230 legislative history",
     "source": "https://www.theblock.co/post/345390/utah-scraps-bitcoin-reserve-provision-before-advancing-states-crypto-bill",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Virtual Currency Kiosks provisions (proposed Ch.7-29 Part 2) - CAUTION: interim-committee draft, not confirmed enacted",
     "source": "https://le.utah.gov/interim/2025/pdf/00004268.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Stablecoin/digital-money commercial context",
     "source": "https://www.webpronews.com/paypal-applies-for-utah-bank-charter-to-expand-smb-loans-and-crypto/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "Utah's operational-resilience baseline for payments is anchored in the Protection of Personal Information Act (breach notification since 2006, amended 2024) and the Utah Cyber Center's coordination role, rather than a payments-specific operational-resilience regime; GLBA-regulated financial institutions receive a partial carve-out from the general statute.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Protection of Personal Information Act, Utah Code 13-44-101 et seq. (since 2006)",
     "source": "https://www.recordinglaw.com/us-laws/data-privacy-laws/utah-data-privacy-laws/data-breach-notification/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "SB98 amendments (effective May 1, 2024)",
     "source": "https://cybercenter.utah.gov/Report-a-Breach/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "GLBA carve-out, 15 U.S.C. §6809",
     "source": "https://www.perkinscoie.com/en/news-insights/security-breach-notification-chart-utah.html",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Utah Technology Governance Act / Utah Cyber Center",
     "source": "https://www.hunton.com/privacy-and-cybersecurity-law-blog/utah-enacts-amendments-to-state-breach-notification-law",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w4-scheme-network-compliance",
   "standing_position": "Utah imposes no state-specific interchange or surcharge cap; scheme compliance is delegated to card-network rules (Visa/Mastercard surcharge ceilings) layered on top of a brief-then-repealed 2013-2014 state surcharge ban, plus ongoing exposure to the nationwide Visa/Mastercard interchange antitrust settlement.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "SB67 (2013), Credit Card Surcharges Utah Code 13-38a",
     "source": "https://le.utah.gov/~2013/bills/sbillenr/sb0067.htm",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Card-network surcharge rules",
     "source": "https://www.getflexpoint.com/credit-card-surcharging-us-states/utah",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Durbin Amendment, 15 U.S.C. §1693o-2",
     "source": "https://uscode.house.gov/view.xhtml?req=%28title%3A15+section%3A1693o-2+edition%3Aprelim%29",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "DCP surcharge disclosure enforcement",
     "source": "https://dcp.utah.gov/education/surcharges-and-fees/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Payment Card Interchange Fee antitrust settlement (Visa/Mastercard)",
     "source": "https://www.paymentcardsettlement.com/en",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "Assessed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w5-payment-corridor-dynamics",
   "standing_position": "Utah has no distinct state-level cross-border payment corridor or remittance-scheme regime; its corridor relevance is instead structural, arising from its ILC banks' nationwide interest-rate-exportation lending distribution and Utah-based open-banking data infrastructure serving the whole US bank-data corridor.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Federal interest-rate exportation, Section 27 FDIA",
     "source": "https://lawreview.uchicago.edu/online-archive/courts-prepare-take-true-lender-question",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Open-banking data-aggregation infrastructure",
     "source": "https://www.ksl.com/article/50086550/latest-unicorn-300m-funding-round-gives-utah-based-fintech-company-mx-19b-valuation",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w6-industry-structure-commercial-dynamics",
   "standing_position": "Utah is the leading US jurisdiction for Industrial Bank (ILC) charters, hosting the majority of the country's fintech- and auto-finance-linked ILCs, while its 'Silicon Slopes' cluster has produced payments/fintech unicorns; the bank-partnership ('rent-a-bank') model built on Utah charters remains commercially central to national online lending and is now attracting large payments companies seeking direct charters.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Industrial Bank charter market structure",
     "source": "https://www.bankingdive.com/news/stellantis-fdic-ilc-charter-approval-utah-industrial-bank/820364/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Payments-sector ILC entrants",
     "source": "https://www.digitaltransactions.net/paypals-next-step-setting-up-an-industrial-bank-to-reduce-third-party-reliance/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "BNPL sector charter interest",
     "source": "https://www.paymentsdive.com/news/paypal-seeks-bank-charter/807970/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Silicon Slopes fintech cluster",
     "source": "https://www.ksl.com/article/50086550/latest-unicorn-300m-funding-round-gives-utah-based-fintech-company-mx-19b-valuation",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Venture financing structure",
     "source": "https://www.openvc.app/investor-lists/venture-capital-firms-investors-utah",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Bank-partnership commercial model",
     "source": "https://www.venable.com/insights/publications/2025/02/a-primer-on-state-consumer-financial-regulation",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w7-legal-litigation",
   "standing_position": "Utah-chartered banks sit at the centre of the national 'true lender'/rent-a-bank litigation and enforcement wave, with multiple state-AG actions and private suits testing whether Utah banks or their nonbank fintech partners are the true lender for usury purposes; outcomes have been mixed, including a Colorado safe-harbor settlement and a $4 million DC settlement against a Utah-bank-partnered lender.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "True lender litigation, Meade v. Avant of Colorado",
     "source": "https://www.lexology.com/library/detail.aspx?g=54a8e099-b998-4f05-8a56-b6e1b85997f3",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Colorado true-lender safe-harbor settlement (2020)",
     "source": "https://www.consumerfinancemonitor.com/2020/09/10/california-dept-of-business-oversight-launches-true-lender-investigation-of-auto-title-lenders-partnership-with-utah-bank/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "DC AG v. Elevate/FinWise Bank settlement",
     "source": "https://www.abc4.com/news/local-news/utah-banks-predatory-lending-partner-to-pay-4-million-settlement-with-dc-for-charging-up-to-149-in-apr/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Bethune v. LendingClub Corporation",
     "source": "https://www.lexology.com/library/detail.aspx?g=e8ae251d-bfe3-489a-b73a-a683b1fcdbaa",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Consumer-advocacy pressure on Utah ILCs",
     "source": "https://www.abc4.com/news/local-news/utah-banks-predatory-lending-partner-to-pay-4-million-settlement-with-dc-for-charging-up-to-149-in-apr/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "FDIC interest-rate-authority rulemaking comment (WebBank)",
     "source": "https://www.fdic.gov/system/files/2024-07/2019-federal-interest-rate-authority-3064-af21-c-053.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "Possible",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w8-merchant-acquiring-risk",
   "standing_position": "Utah has no dedicated merchant-acquirer licensing or high-risk-MCC statute; acquiring-related consumer risk is addressed only indirectly through DFI's general oversight of payment service providers and DCP's surcharge-disclosure enforcement.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Surcharge/fee disclosure oversight relevant to acquiring risk",
     "source": "https://dcp.utah.gov/education/surcharges-and-fees/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "General DFI multi-sector PSP oversight",
     "source": "https://payatlas.com/regulator/dfi-ut-4667",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w9-product-innovation-market-development",
   "standing_position": "Utah was the third US state to launch a fintech regulatory sandbox (2019) and has since layered on blockchain-innovation protections (2025) and a new earned-wage-access product category (2025), reinforcing a deliberately innovation-friendly product-development posture administered mainly by the Department of Commerce.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Regulatory Sandbox Program, Utah Code Ann. §13-55-101 (2019)",
     "source": "https://commerce.utah.gov/sandbox.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Regulatory Sandbox reciprocity/deemed-licensure provision",
     "source": "https://natlawreview.com/article/utah-s-new-regulatory-sandbox",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Blockchain and Digital Innovation Amendments, HB230 (2025)",
     "source": "https://coincentral.com/utah-passes-modified-blockchain-bill-removes-bitcoin-reserve-provision/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Earned Wage Access Services Act, HB279 (2025)",
     "source": "https://www.goodwinlaw.com/en/insights/publications/2025/03/alerts-finance-ftec-utah-becomes-seventh-state-to-enact-law",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Open-banking/product ecosystem",
     "source": "https://builtin.com/companies/location/salt-lake-city/type/fintech-companies",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w10-consumer-protection-app-fraud",
   "standing_position": "Consumer protection in Utah payments rests on the Utah Consumer Privacy Act, general Division of Consumer Protection UDAP enforcement, and the 2025 earned-wage-access conduct rules; Utah has no dedicated APP (authorised push payment) fraud reimbursement mandate, relying instead on the federal Reg E/EFTA unauthorized-transfer framework.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Utah Consumer Privacy Act (effective Dec 31, 2023)",
     "source": "https://www.bassberry.com/news/slalom-through-sensitive-data-utah-skis-into-consumer-privacy-protection/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "General UDAP/deceptive-practice enforcement",
     "source": "https://dcp.utah.gov/education/surcharges-and-fees/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Multistate consumer-enforcement track record",
     "source": "https://commerce.utah.gov/category/division-of-consumer-protection/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Earned Wage Access Services Act consumer protections (2025)",
     "source": "https://www.goodwinlaw.com/en/insights/publications/2025/03/alerts-finance-ftec-utah-becomes-seventh-state-to-enact-law",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Possible",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w11-aml-cft-financial-crime",
   "standing_position": "W11 baseline content for US-UT is intended to be Sentinel.gi-fed rather than original FIM-style analysis. The general payments-licensing research surfaced AML-adjacent procedural touchpoints (DFI's AML-policy review for MTL applicants; payday-lender credit-report/data-sharing duties), but a dedicated Sentinel.gi payments-context AML/CFT position for this jurisdiction could not be retrieved within this research pass.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Money Transmitter Act AML application requirement",
     "source": "https://suretygroup.com/surety-bond/utah-money-transmitter-bond/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Deferred Deposit Lending Amendments (2016)",
     "source": "https://debthammer.org/utah-payday-loan-laws/",
     "source_url": null,
     "source_tier": "4",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w12-correspondent-banking-settlement-access",
   "standing_position": "Utah's correspondent-banking exposure runs primarily through its industrial banks' program-bank/settlement relationships with large national banks, with FDIC deposit insurance and Sections 23A/23B affiliate-transaction limits underpinning access and safeguarding; PayPal's pending ILC application explicitly aims to reduce reliance on such correspondent/program-bank arrangements.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Program-bank/correspondent settlement relationships",
     "source": "https://www.forbes.com/sites/zennonkapron/2025/12/18/paypal-bank-what-a-us-charter-would-mean-for-sme-lending/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Joint DFI/FDIC settlement-access safeguards",
     "source": "https://dfi.utah.gov/financial-institutions/industrial-banks/what-is-a-utah-industrial-bank/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Correspondent/program-bank dependency reduction",
     "source": "https://www.digitaltransactions.net/paypals-next-step-setting-up-an-industrial-bank-to-reduce-third-party-reliance/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Sections 23A/23B, Federal Reserve Act",
     "source": "https://en.wikipedia.org/wiki/Industrial_loan_company",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/united-states-utah/#w13-commercial-intelligence-fintech",
   "standing_position": "The trailing-12-month window (July 2025-July 2026) has been dominated by a wave of Utah industrial-bank charter filings and approvals from major payments, auto-finance and wealth-management firms, led by PayPal's application to form PayPal Bank and capped by FDIC approvals for Edward Jones, Ford, GM and Stellantis.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event: regulatory filing / bank charter application",
     "source": "https://newsroom.paypal-corp.com/2025-12-15-PayPal-Submits-Applications-to-Establish-an-Industrial-Bank-to-Expand-Access-to-Financial-Services-for-U-S-Small-Businesses",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: bank charter approval",
     "source": "https://www.bankingdive.com/news/edward-jones-ilc-charter-fdic-approve-industrial-bank-utah/813515/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: bank charter approvals",
     "source": "https://www.bankingdive.com/news/nissan-ilc-charter-fdic-utah-travis-hill-gm-ford-edward-jones/751284/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: bank charter approval",
     "source": "https://www.bankingdive.com/news/stellantis-fdic-ilc-charter-approval-utah-industrial-bank/820364/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: signalled charter interest (BNPL)",
     "source": "https://www.paymentsdive.com/news/paypal-seeks-bank-charter/807970/",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  }
 ]
}