OCC Rejects Bunq Charter as CFPB Awaits Permanent Director

The Consumer Financial Protection Bureau oversees consumer-finance markets, while the Office of the Comptroller of the Currency decides who may operate as a national bank. Digital lenders seeking a charter must demonstrate adequate capital, sound governance and robust compliance. Bunq’s bid carried added baggage after De Nederlandsche Bank imposed a €2.6 million anti-money-laundering fine in August 2025, a decision the Dutch lender has contested.

President Donald Trump nominated former Capital One executive Brian Johnson to lead the CFPB on June 10. Johnson appeared before the Senate Banking Committee on July 23, but his nomination still awaits committee and full Senate votes. Separately, the OCC denied bunq US Bank’s charter application in an August 4 letter, citing gaps in funding, management experience, credit-quality forecasts and its path to profitability. Bunq filed on January 6, two years after withdrawing its first attempt, and said it plans to reapply.