The US is an exception in its fragmented banking system. Usually there's no conflict of legality between state and federal government, and banks are consolidated in a few big players that are pretty eager to satisfy business owners demands so having bank accounts is not usually an issue (even for somewhat-illegal or unregulated market business). Even startups nowadays are getting fast access to corporate credit cards.
But credit cards are on scope of an entirely different order of magnitude compared to a local bank checking account. Visa and Mastercard are global authorities on cashflow. And this is exactly why they're accidentally becoming regulators, they transcend the US weirdly fragmented banking system.
But credit cards are on scope of an entirely different order of magnitude compared to a local bank checking account. Visa and Mastercard are global authorities on cashflow. And this is exactly why they're accidentally becoming regulators, they transcend the US weirdly fragmented banking system.