Nu Wins Conditional Approval for US National Bank Charter

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The institution still needs to fulfill several requirements to obtain final approval.

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Nu, the digital financial services company, obtained conditional approval from the U.S. Office of the Currency Controller (OCC) for the formation of a bank. The approval by the agency that regulates and supervises all national banks and federal savings cooperatives would mean an opportunity for the Brazilian-born company to expand its operational presence and product portfolio in the U.S. market. When the license is fully approved, Nu will be ab…

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Nubank received the first authorization from the U.S. government to operate as a bank. After submitting his application at the end of September, Nubank received conditional approval from the Office of the Currency Controller (OCC). "The U.S. organization will be led by Nu's co-founder, Cristina Junqueira," Nubank said in a statement. "Roberto Campos Neto, former president of the Central Bank of Brazil, will serve as president of the Board of Dir…

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The Brazilian neobank Nubank (NU) received approval to establish itself as a national bank in the U.S. and begin to provide different financial services, the company reported this Thursday.Nu obtained the “conditional approval” from the Office of the Comptroller of Currency (OCC) in the U.S. The company entered the phase of banking organization in the U.S., in which it will have to meet requirements of the OCC and obtain approvals from the Feder…