SoFi takes second shot at OCC bank charter

By Jennifer Kang
14 Jul 2020

Online lender SoFi this month filed for a bank charter with the Office of the Comptroller of the Currency (OCC) for the second time — with sources saying a more supportive OCC may increase the lender’s chances of being approved, after beginning the process three years ago.

SoFi filed the bank charter on July 8 with a proposed bank location set in Salt Lake City, Utah, a company spokesperson told GlobalCapital. The OCC has been taking public comment as of Monday.

This is not the first time SoFi has tried to obtain a bank charter. In 2017, ...

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