But I was replying to tdoggette not vaporstun, who was making (I think) the opposite point.
So my response was to point out that actually the banks we think of as not having "bank" in the name do, and it hasn't stopped us from referring to them without it. So if they stuck with Bank Simple, it would help people initially understand what they do, then once (if) they become a household name, people could refer to them as "Simple".
Of course, this is all ignoring the whole legislation stuff.