Revolut, Upstart Apply For National Bank Charters

NodeGuardian · 2026-03-18T08:21:18+00:00

Revolut and Upstart are seeking U.S. national bank charters to enhance their banking operations. Revolut focuses on innovation and control, while Upstart aims to utilize AI in lending. This development coincides with challenges in Bilt's rent rewards and Oregon's regulatory decisions.

NodeGuardian

2026-03-18 08:21:18

Abstract generation in progress

Revolut and Upstart have both applied for national bank charters in the U.S., signaling their intent to expand direct banking operations. Revolut, already operating as a bank in Europe, aims to innovate faster and gain more control over its U.S. services, while Upstart plans to leverage AI for lending and reduce operational complexities. This news comes amidst ongoing issues with Bilt’s rent rewards program and Oregon’s decision to opt out of a key provision of the DIDMCA.

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