Banking and Bank Charter Trends
Charters, capital rules, core migrations, and the supervisory actions that decide what a bank is allowed to ship.
More: Payments · Crypto and Stablecoins · Lending · Investing · Insurance
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Avant Files OCC Application for De Novo National Bank Charter
Near-prime lending fintech Avant has filed with the OCC and FDIC for a national bank charter to operate as Avant Bank, N.A., seeking to shed its reliance on bank partners and serve customers directly. This is a formal de novo application — part of a continuing wave of fintechs…
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Chime Acquires Banking Partner Stride Bank for $590M Cash
Chime has purchased Stride Bank — its seven-year banking-as-a-service partner — for $590 million in cash, bringing its chartered banking infrastructure in-house. The deal signals a structural shift in how large neobanks are moving to own, rather than rent, their regulated…
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OpenReserve Gets Conditional OCC Approval for On-Chain Digital Bank
OpenReserve, a digital bank built by former MoneyLion executives targeting institutional crypto-native banking, has received conditional charter approval from the OCC. This is the third conditional OCC digital bank approval in recent weeks, reinforcing the agency's active…
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FDIC Raises Reciprocal Deposit Cap for Commercial Accounts, Effective Sept. 1
The FDIC's interim final rule, adopted August 27 and effective September 1, substantially increases the ceiling on reciprocal deposits banks can hold without brokered-deposit classification, giving banks more capacity to compete for large commercial operating accounts.…
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Revolut Wins Conditional OCC Approval for US National Bank Charter
The OCC has granted Revolut conditional approval to form a US national bank, giving the neobank a formal path to full domestic banking operations. This is a primary-agency regulatory action that changes Revolut's competitive standing against incumbents and other charter…
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OCC Approves Itaú Unibanco to Operate US Banking Presence in Miami
The OCC has granted Itaú Unibanco, Latin America's largest bank by assets, regulatory approval to establish a US bank in Miami — a market-structure entry by a major foreign GSIB into the US banking system that signals continued OCC openness to large foreign bank charters and…
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OCC Grants World Liberty Financial Conditional Bank Charter Approval
The OCC has issued a conditional bank charter to Trump-linked crypto venture World Liberty Financial, extending the same regulatory pathway used for Circle and Sony Bank. Operators should note the OCC is now processing a third crypto-native charter in quick succession,…
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CFPB Ends Public Publication of Consumer Complaint Narratives
The CFPB announced it will stop discretionary publication of complaint narratives and data visualizations, effectively reducing public transparency into consumer grievance patterns. Operators relying on this data for competitive intelligence or compliance benchmarking will need…
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FinCEN Permanently Drops US Business Beneficial Ownership Disclosure Requirement
FinCEN has permanently exempted US-registered businesses from reporting their true owners, eliminating a database banks were relying on to fulfill customer due diligence requirements under CDD rules. This structurally changes AML/KYC compliance workflows for any institution…
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OCC Rejects Wise National Trust Bank Charter on Compliance Grounds
US regulators denied Wise's application for a national bank charter, citing compliance concerns, sending shares lower. The rejection signals continued OCC scrutiny of fintech charter applicants and raises the barrier for non-bank payment firms seeking direct access to US…
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Revolut Receives Full Australian Banking License from APRA
Australia's prudential regulator has granted Revolut a Deposit-taking Institution license, making it the first global neobank to hold a full banking charter in the Asia-Pacific region. Operators in cross-border payments and digital banking should note a new licensed competitor…
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OCC Issues Circle Final Trust Bank Charter for Digital Asset Custody
Circle has received final OCC approval to open a trust bank division, giving the USDC issuer a federal charter for digital asset custody. This is a primary-agency regulatory milestone that formalizes Circle's banking-grade infrastructure and raises the competitive bar for…
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OCC Grants Sony Bank Conditional Approval for US Stablecoin Trust Bank
The Office of the Comptroller of the Currency has issued conditional approval for Sony Bank to establish a US national trust bank subsidiary focused on stablecoin operations. This is a notable entry point for a major Japanese financial institution into US regulated crypto…
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CFPB Issues Joint Final Rule on Uniform Financial Data Reporting
The CFPB has finalized a joint rule establishing uniform standards for reporting financial data, creating new compliance obligations across the industry. Operators in payments and lending will need to assess data architecture and reporting pipelines against the new requirements.
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FDIC Establishes Bank Secrecy Act Standards for Stablecoin Issuers
The Federal Deposit Insurance Corporation (FDIC) Board of Directors has taken another step in implementing the GENIUS Act by approving a proposed rule that would implement Bank Secrecy Act (BSA) and sanctions compliance standards for FDIC-supervised permitted payment stablecoin…
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OppFi Moves Deeper Into Banking With $130 Million BNC Purchase
OppFi is buying BNC Bank for $130 million, announced April 29. The online lender gets BNC's national bank charter and comes under OCC supervision, rather than reaching consumers through a partner bank.
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HSBC Extends Tokenized Deposit Service to US Firms
HSBC has expanded its Tokenized Deposit Service to the United States, adding another key market to a service already available in Hong Kong, Singapore, Luxembourg and the UK.
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Clearing Infrastructure Firm Lorum Seeks Trust Bank Charter
Clearing and treasury infrastructure provider Lorum has filed for a national trust bank charter, seeking a clearer path for direct clearing and treasury infrastructure.
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Valt Bank granted de novo bank charter
Valt, a digital-only business banking startup led by a group of former US Bank executives, has received conditional approval for a national charter by the Office of the Comptroller of the Currency.
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Fed narrowly approves Morgan Stanley plan for German arm
The Federal Reserve authorized a bid by Morgan Stanley to incorporate its German investment bank under its U.S. bank subsidiary. Three Biden nominees on the Fed board dissented, citing concerns that the move could heighten risks for the U.S.-based investment banking giant.
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De novo VALT bank gets swift charter approval
VALT, a digital-oriented small-business lender founded by U.S. Bank veteran Matt Gediman, received approval for its denovo charter application from the Office of the Comptroller of the Currency 120 days after its application, clearing a key regulatory hurdle at a time when…
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Ualá — Equity
Argentina neobank Ualá secures $195M equity round at $3.2B valuation, led by Allianz X. 11M+ customers across Latin America.
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Section 1033 Open Banking Rule Delayed — Timeline Uncertain
The original April 2026 compliance deadline has been shelved. CFPB reopened rulemaking via ANPR in August 2025. Earliest realistic new rule: late 2026, with compliance deadlines pushed to 2027+.
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Mal — Seed
UAE AI-native Islamic digital bank Mal secures $230M seed (largest in MEA history) led by BlueFive Capital. Launching Q1 2026.
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FDIC 'Synapse Rule' Reshapes BaaS Compliance
After Synapse Financial's collapse left $65-95M in customer funds missing, the FDIC now requires daily reconciliation of custodial deposits and independent testing of third-party risk programs.
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AppZen — Growth
AI-powered autonomous finance platform for enterprise T&E, AP, and corporate card raises $180M led by Riverwood Capital. Used by 65+ Fortune 500 companies.
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Lumin Digital raises $200 million+ in financing
Lumin Digital, a cloud-based digital banking platform for credit unions and banks, closes a $200 million+ financing round.