Original Content
The Brazilian digital challenger “will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months” as it awaits green lights from the Fed and FDIC.
Nubank gets conditional OCC approval for charter
AI Summary
Nubank receives conditional approval from the OCC for its charter; plans to fully capitalize within 12 months and open the bank within 18 months, pending approvals from the Fed and FDIC.
Texas Relevance
The article does not mention Texas, TCUD, or any Texas-specific entities. It focuses on a Brazilian financial institution’s regulatory approval process.