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  • Los Angeles Times

    He dreamed of a career in politics. Now he's shaking up consumer banking

    by Margot Roosevelt, Los Angeles Times Jul 22, 2019 4 minutes

    MARINA DEL REY, Calif. - Andrei Cherny is chief executive of Aspiration, a 4-year-old firm that markets itself with the slogan "Save Money, Save the Planet." The financial technology firm offers what it calls socially conscious online banking and investing services, a strategy aimed at digital-savvy millennials.

    Co-founded by Cherny and Los Angeles investor Joseph Sanberg, Aspiration is among a gaggle of "neo-banks" competing to disrupt the financial industry's branch-based model at a time when high fees and big-bank transgressions - think Wells Fargo's fake accounts - are angering consumers.

    The 200-employee fintech startup distinguishes itself from mainstream banks by pledging to invest customer account money with the climate crisis in mind.

    "The four biggest global bankers

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