Years of regulatory action against German fintech N26 for its poor anti-money laundering controls may have cost the business billions of euros, co-founder Valentin Stalf told the FT, as authorities finally remove a cap on its growth. Financial regulator BaFin in 2021 ordered the online-only bank to limit its new client sign-ups to 50,000 a month, compared with the monthly average of 170,000 it was taking on at the time. The cap was increased to 60,000 last year and it will be removed from June, according to N26.