Federal Reserve Reviews Bank Holding Company Applications
Published Date: 10/27/2026
Notice
Summary
Some companies want to become bank holding companies or buy banks and related businesses. The Federal Reserve is checking their applications and wants your thoughts by November 27, 2026. If approved, these moves could change who controls certain banks and how they operate across the U.S., but no big money changes are announced yet.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Upstart’s Application to Become a Bank Holding Company
Upstart Holdings, Inc., Burlingame, California, has applied to become a bank holding company by acquiring Upstart Bank, National Association, Wilmington, Delaware. The application states Upstart would retain numerous named subsidiaries and trusts and engage in lending and loan servicing (under 12 CFR 225.28(b)(1)), asset management/servicing/collection activities (under 12 CFR 225.28(b)(2)(vi)), and data processing, storing, and furnishing services (under 12 CFR 225.28(b)(14)(i)(A)). The notice also states that, unless otherwise noted, nonbanking activities will be conducted throughout the United States.
Public Comment Opportunity and Disclosure Rules
You can submit written views on these bank holding company applications; comments must be received at the indicated Federal Reserve Bank or at the Board of Governors (Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001) not later than November 27, 2026. The public portions of the applications are available for inspection at the listed Federal Reserve Bank(s) and at the Board, and comments are subject to public disclosure (comments will generally be made available without change and should not include confidential information).
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Key Dates
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