FDIC approval moves Varo to final stage of bank charter journey


13 February 2020

Mobile banking company Varo Money announced a significant step in its application process for a national bank charter, with approval from the Federal Deposit Insurance Corporation (FDIC) for deposit insurance. The Office of the Comptroller of the Currency first awarded Varo preliminary approval in September 2018. Now with FDIC insurance, Varo moves the charter process to the next and final step of the approval process.

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