Regulatory Alerts2025-09-12 | Conditional Approval 1346Added
Conditional Approval 1346 — Application to Charter OneSource Virtual Trust Bank, National Association
The Office of the Comptroller of the Currency grants preliminary conditional approval for OneSource Virtual Trust Bank, National Association to operate as an uninsured national trust bank limited to fiduciary activities. The bank must maintain initial paid-in capital of at least $7.5 million and secure Federal Reserve Bank membership. Final approval is contingent upon meeting pre-opening requirements, including submitting information systems architecture and implementing a security program compliant with 12 CFR 30, Appendix B. This approval expires if capital is not raised within 12 months or the bank does not open for business within 18 months.