StarBucks is esstentially a Bank

Even though I don't support this coffee chain (there are many better local options that could use our support), here's why Starbucks is essentially operating as a bank:

1. They hold $1.77 billion in customer deposits through their rewards program - more than some actual banks!
2. These deposits are interest-free loans from customers.
3. They profit from unused gift card balances (about 10% annually).
4. Unlike banks, customers can only "withdraw" coffee, guaranteeing revenue.
5. In 2016, a banking executive called Starbucks an "unregulated bank."