Regulatory Alerts2026-08-04 | Corporate Decision 1384Added
Corporate Decision 1384 — Denial of Application to Charter bunq US Bank, National Association
The Office of the Comptroller of the Currency (OCC) denies the application to establish bunq US Bank, National Association, New York, New York. The denial is based on the applicant's failure to demonstrate sufficient capital to support the projected business volume, the lack of competent management with relevant experience in unsecured credit cards and U.S. banking regulations, and the inability to reasonably achieve profitability or operate in a safe and sound manner. The OCC also cited risks to the Deposit Insurance Fund and inconsistencies in management communications regarding capital sources and financial projections.
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