Avant Seeks National Bank Charter to Serve Customers Directly
FinTech company Avant filed an application to establish an insured national bank called Avant Bank, N.A., the company said in a Friday (Sept. 18) press release. Avant filed the application for a national bank charter with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., according to the release. Avant […] The post Avant Seeks National Bank Charter to Serve…
FinTech firm Avant has applied for a national bank charter to directly serve customers and expand access to credit. The company, founded in 2012, uses data and machine learning to offer credit cards, personal loans, a financial management tool, and other products. Avant's proposed national bank charter, if approved, would enable CEO Al Goldstein to offer products under one regulatory framework, reduce costs, and create more value for customers.
Upon approval, Avant Chief Business Officer Charles Whittaker would assume the CEO role. The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. will review the application.
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