SMB lender OnDeck ‘actively pursuing’ bank charter
On the heels of digital banking startup Varo Money applying for a banking license with the Federal Deposit Insurance Corporation ...
Tag: OCC
Varo files FDIC application, announces $100m Series C funding
Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking ...
Financial industry reps worry OCC regulatory ‘sandbox’ could stifle innovation
The Office of the Comptroller of the Currency (OCC) is pushing ahead with its Innovation Pilot Program, a mechanism that ...
OCC reports on proposed innovation pilot program to Congress
On Tuesday, Beth Knickerbocker, the chief innovation officer for the Office of the Comptroller of the Currency (OCC), delivered testimony ...
Varo’s FDIC application tests uncharted territory
Varo Money has been striving to get a banking charter for three years. On Aug. 31, 2018, the digital-only challenger ...
Backed by $131m, Grasshopper Bank to roll out broadly next month
New York-based Grasshopper Bancorp, which opened for business to a select group of entrepreneurs and investors earlier this month, this ...
Fintechs Face Difficult Regulatory Realities on Charters
WASHINGTON, D.C. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams ...
Neobank Aspiration Doesn’t Aspire to Offer Lending Products…Yet
There are no lending products in fintech Aspiration's near-term future thanks to the neobank's new status as a broker-depositor. "Part ...
Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?
Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer ...
Why the OCC’s Fintech Charter Makes Sense
Words like “disruption” and “democratization” are flung around casually by many tech entrepreneurs and venture capitalists in the mistaken belief ...
