OCC Denies Dutch Fintech's U.S. National Bank Charter Application

The OCC on Aug 04, 2026, denied a Dutch fintech's application to charter a new national bank in New York, citing "significant supervisory and compliance concerns." The proposed bank planned to offer deposit accounts and unsecured credit cards through a subscription-based model for personal and business users. The OCC flagged uncertainty about initial capitalization, noting revised projections increased the figure from $50 million to $58.3 million without supporting detail. The agency also found gaps in management and director experience with unsecured credit cards and national banking regulations.

Business and marketing plans did not adequately support expected profitability or safe and sound operations, according to the OCC. The regulator cited risk to the Deposit Insurance Fund and transparency concerns over inconsistencies in management communications. The denial does not prohibit a future de novo charter application.