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SoFi scores conditional approval for bank charter from US regulator

Personal finance company SoFi has won conditional approval in its bid to create a nationally chartered bank. SoFi Bank’s conditional approval was announced late Tuesday by the Office of the Comptroller of the Currency (OCC). In a statement, the OCC said that it “conditionally approved applications from Social Finance Inc. (SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah.” “As part of the transaction, SoFi Bank, N.A. will …