OCC conditionally approves Upstart's national bank charter four months after filing
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The OCC granted conditional approval on July 23, 2026 for Upstart Bank, a branchless full-service national bank headquartered in Delaware that will originate loans nationwide and take FDIC-insured deposits. CEO Paul Gu said the charter 'will allow us to lower the cost of lending and bring our full product offering to all 50 states,' and Upstart plans to keep its existing loan-purchaser network rather than replace it. The four-month turnaround from a March application signals a markedly more fintech-friendly regulatory posture for AI-driven lenders.