On July 31, 2020, the Office of the Comptroller of the Currency (OCC) approved the national bank charter application of Varo Bank, N.A., a wholly-owned subsidiary of fintech Varo Money, Inc. The approved application is for a...more
As we reported, Acting Comptroller of the Currency Brian Brooks has previewed the OCC’s plans to introduce another special purpose national bank charter that would give payment companies a nationwide servicing platform and...more
8/5/2020
/ Bank Holding Company Act ,
Banking Sector ,
Federal Bank Regulatory Agencies ,
Federal v State Law Application ,
Financial Services Industry ,
FinTech ,
Money Transmitter ,
National Bank Charters ,
OCC ,
Preemption ,
Special Purpose National Bank Charter