Ice cream bank dispenses sweet, sweet interest but annoys regulators

There's a lot of debate on how heavily the finance industry should be regulated, but many people will likely argue this kind of regulation is definitely a step too far. Ethan Clay from Shadyside, Pa., has put a new spin on the phrase "cold, hard cash" by setting up a simplified community bank in his ice cream store, paying customers interest in the form of gift cards. He says he wants to create a less unpleasant (and more delicious) banking system, arguing he can dodge complicated banking laws because his scheme is actually just a gift card program. Regulators aren't buying it: They say Clay will hear from the district attorney's office if he doesn't close what is probably America's tastiest bank. [Source]

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