CFPB Monitor

JANUARY 25, 2021

Per the Utah Department of Financial Institutions website, Rakuten Bank America’s application for a Utah ILC charter was received on July 26, 2019 and remains pending. . Rakuten’s first FDIC deposit insurance application was filed in July 2019, and was withdrawn in March 2020. based bank, Rakuten Bank America.

FDIC 78

FDIC Utah America Financial Technology 78

CFPB Monitor

JANUARY 24, 2022

as a full service national bank headquartered in Cottonwood Heights, Utah. SoFi Technologies, has applied to the Federal Reserve to become a bank holding company and therefore subject to consolidated supervision. The OCC announced this week that it has conditionally approved applications from Social Finance Inc.

National 78

National Fintech Company FDIC 78

CFPB Monitor

AUGUST 7, 2020

a wholly-owned subsidiary of fintech Varo Money, Inc. The approved application is for a full-service charter, not the OCC’s controversial FinTech charter that is currently the subject of ongoing litigation. team — the first consumer fintech to receive a national bank charter. The water’s fine!”. Varo Bank, N.A.’s

Fintech 78

Fintech FDIC Utah National 78

CFPB Monitor

JULY 14, 2022

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

California 78

California Innovation Utah Texas 78

CFPB Monitor

MAY 19, 2022

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

California 78

California Utah United States FDIC 78

CFPB Monitor

APRIL 19, 2022

OppFi’s complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans).

California 78

California Innovation Utah United States 78