OppFi
Ticker OPFI. Consumer lending platform.
5 items in 3 issues, Nov 6, 2026 to Nov 8, 2026, newest first. Each item links to the issue it ran in, where its sources are listed.
Related: Regulation and policyCharters and sponsor banksDeals and fundingSezzle
November 2026
- Sun, Nov 8 · The long read: The charter rush, as Democrats take the Senate
Buying a bank stalls. The other route, buying an existing bank, has run into resistance. Twenty state and District attorneys general asked regulators in July to deny charters and deals to fintechs with a "history of predatory lending or risky practices." Enova dropped its Grasshopper bid in September, saying the process "is susceptible to political pressure," and OppFi withdrew its BNC applications on Nov. 3 while keeping the merger agreement in effect.
Read in the issue → - Sun, Nov 8 · The long read: The charter rush, as Democrats take the Senate
What to watch. The OCC's approvals do not need the Senate, but deposit insurance from the FDIC is the gating step for de novo banks and ILCs, and FDIC board seats need confirmation. The decisions to watch are the FDIC's rulings on Affirm's ILC and Klarna's Utah bank, Sezzle's OCC review and whether OppFi refiles or ends its BNC agreement.
Read in the issue → - Sat, Nov 7 · Interest earned
Charters, both ways. Sezzle applied in October for a national bank charter as Sezzle Bank, N.A., while OppFi withdrew its regulatory applications to buy Arizona's BNC National Bank, citing a "lack of clearly articulated standards," though its merger agreement remains in effect.
Read in the issue → - Fri, Nov 6 · Banks & charters
OppFi. Subprime lender OppFi withdrew its applications with the OCC, Fed and FDIC to buy Arizona's BNC National Bank for $130 million, blaming a "lack of clearly articulated standards." Sens. Elizabeth Warren and Chris Van Hollen, who had called its model "predatory," welcomed the move, the second such retreat after Enova dropped its Grasshopper Bank bid.
Read in the issue → - Fri, Nov 6 · Banks & charters
Charter path. High-rate lenders seeking bank charters face a tougher road with Warren in line to chair Senate Banking. OppFi said its merger agreement remains in effect and it still wants a charter, but 20 attorneys general had argued the deals were attempts to sidestep state usury caps.
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