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Congratulations to Checkout.com, whose Merchant Acquirer Limited Purpose Bank (MALPB) Charter was just approved by the Georgia Department of Banking and Finance!

In addition to Industrial Loan Companies (ILCs), Merchant Acquirer Limited Purpose Bank Charters (M-A-L-P-Bs), and Special Purpose Depository Institutions (SPDIs), National Trust Banks (NTBs), CEBA banks, and Payments National Banks (PNBs) have emerged as contenders.

Klaros is honored to work with Nubank (NYSE:NU), one of the world's largest digital financial services platforms, which announced today that it has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC).

Why does Nissan Motor Acceptance Company (NMAC) want a Utah Industrial Bank Charter? Congratulations to Nissan Motor Acceptance Company (NMAC) on its filing for a Utah Industrial Bank Charter and to the crack team led by Mike Nonaka at Covington & Burling for its expertise. It was such a pleasure partnering with them on this important initiative. Established in 1981, NMAC is an American company with consistently profitable operations. NMAC and its American parent, Nissan Nor

What kind of bank charter is best? As Peter Renton and I discussed recently on the Fintech One on One podcast , the attitude in Washington has changed dramatically with the new administration, and there’s renewed interest in and optimism around bank charters. Here’s a quick run-down on what the options are.  Build (De Novo) vs. Buy (Acquisition) : The important thing is that at this point there’s no difference in approvability: the regulators will look just as hard at an acqu

What happens to a fintech’s valuation if it becomes a bank? Periodically, Klaros nonbank clients ponder the potential impact on their enterprise valuation if they were to seek a bank charter. Klaros is an advisory and investment firm, so we leave valuation questions to our friends within the investment banking profession, but the following general parameters may be helpful for fintechs and others considering pursuit of a bank charter. 1. Business Model is Key Driver of Valu

It’s been 1,166 days since the OCC’s last fintech de novo approval but if you want to charter a new bank or acquire or merge with an existing bank, don’t give up.

By Andreas Westgaard, Michele Alt, and Gabriel Yeung At Klaros, we’re in the bank design business. Our partners and staff work with a...