Definition
A newly formed bank charter (not a conversion of an existing institution). For national banks, OCC grants preliminary/conditional approval; FDIC insurance and often Fed BHC approval are separate gates before operations.
Key Points
- Upstart received OCC conditional approval July 23, 2026 for Upstart Bank, N.A. (2026-07-24-upstart-occ-conditional-bank-charter)
- Operations require satisfying OCC conditions plus pending FDIC/Fed approvals
- Distinct from limited national trust bank charters