Banking & Credit

CFA and Other Groups Reiterate Concerns to OCC About Opportun’s Application for a National Bank Charter

CFA joined fellow community, consumer, and civil rights organizations in reiterating earlier comments to the Office of the Comptroller of the Currency (OCC) expressing serious concerns about Oportun’s application for a national bank charter. The groups urged the OCC to delay any action related to the application until the Consumer Financial Protection Bureau (CFPB) has completed its investigation of Oportun. The groups further urged the OCC to delay action until Oportun to take steps to address the serious debt collection and lending issues that are causing harm to Latino and low-to-moderate income borrowers before they are able to become a national bank.