Mission Lane Applies for Credit Card Bank Charter
Mission Lane has applied to the Office of the Comptroller of the Currency for a credit card bank charter, aiming to serve 70 million underserved Americans with affordable credit options. The move could increase competition in the credit card market and is notable as no company has applied for this type of charter in about 20 years.
Topics: banking regulation credit card bank charter financial inclusion Mission Lane Office of the Comptroller of the Currency