First State-Level Regulatory Sandbox Pops up in Arizona

Fintechs Can Now Jump Into Arizona’s Innovation Sandbox
– Bloomberg BNA

Manatt’s Brian Korn, co-chair of the firm’s financial services group, was interviewed by Bloomberg BNA for an article on Arizona’s decision to host the first state-level regulatory sandbox and its connection to the fintech charter.

The publication noted differing opinions on Arizona’s trailblazing approach, including hopes that other states might be inspired to take a similar action, as well as skepticism regarding its impact.

“I don’t know that there’s going to be a huge rush to Arizona for people who otherwise wouldn’t have a need to be there,” said Korn. “They’re not making it that much easier to obtain a lending license.”