Monthly Archives: September 2018

OCC Approves First “All-Mobile”​ Bank Charter

The Office of the Comptroller of the Currency recently gave conditional approval to a national bank charter applicant that plans to offer traditional bank products and services exclusively through mobile, online, and phone-based channels. The bank, Varo Bank, N.A., will be headquartered in Salt Lake City, Utah, and will not have any branches or deposit-taking ATMs. The bank intends to have a nationwide footprint, however, based on its digital delivery system.

Posted in FinTech \ Comments Off on OCC Approves First “All-Mobile”​ Bank Charter