It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.
It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.
Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”
Varo Money might become the first challenger bank to get a national bank charter. CEO and co-founder Colin Walsh explains why he wants Varo to become a bank.
Fintech challenger banks like Simple, Moven, Varo and Chime have faced separate headwinds in recent years. Here's how they’re taking up the charge again.
