CHICAGO, Sept. 14, 2026 /PRNewswire/ — Enova International (NYSE: ENVA) announced that it has withdrawn its applications with the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System related to the proposed acquisition of Grasshopper Bancorp, Inc.
CEO Steve Cunningham said: “After a thorough evaluation, we are confident that withdrawing our applications is the best decision for Enova and our shareholders. Bank regulatory guidelines and attitudes have not kept pace with the realities of meeting the credit needs of tens of millions of consumers and small businesses underserved by traditional banks. Regulators do not have clear standards for nonbanks that want to become banks and that serve customers whose credit needs today are met mostly outside of the banking system. Without clearly articulated standards, the process is susceptible to political pressure and outside advocacy, rather than being guided strictly by the statutory factors that should govern it.”
Enova said it will continue to serve customers through its existing nonbank model and accelerate share repurchases.