National banks

Oportun's bid for bank charter meets resistance


Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.


OCC to allow branch closures in areas hit by wildfires


The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado.


SoFi applies to open a national bank


If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.


Ending the credit union tax exemption hurts everyone


The author of a recent op-ed fails to realize that making credit unions pay corporate taxes would drive up costs for customers and weaken the economy.


Varo gets vital FDIC OK for bank charter


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.