The news: We’ve recently covered a fintech, a stablecoin issuer, an auto manufacturer, foreign banks, and credit unions that are considering, applying for, or in the process of acquiring US banking licenses. Some have already succeeded, inspiring others to follow suit. And according to the Office of the Comptroller of the Currency, banking charter applications have increased 70% since 2024. Our take: We predict traditional banks will push for regulatory changes that prevent the steady inflow of new banks that haven’t had to follow the more stringent requirements of the past. Banks’ long-standing customer relationships will be a central pillar of their defense strategy. Banks must increasingly leverage their established trust, extensive branch networks, and comprehensive product suites to highlight their stability and one-stop-shop convenience compared to specialized fintechs or more limited new entrants.

With regulatory changes underway, it may be easier for fintechs to get banking charters.