Upstart wins OCC conditional approval to form national bank
UPST•OCC grants conditional approval
Upstart won conditional OCC clearance to form Upstart Bank, a national bank charter aimed at simplifying funding and expanding nationwide lending.
The Delaware-based, branchless bank would originate consumer loans nationwide, accept FDIC-insured deposits once insurance is granted.
FDIC deposit insurance and Federal Reserve bank holding company reviews remain pending before the bank can launch.
