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.”
The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.
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.
The Trump administration will offer a framework and get Congressional input on housing finance; some online banks offer more than 2% interest on deposits.