Get in Touch
My Account

A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

October 19, 2023

On the wires

March 22, 2023

On the web

Companies

SoFi Checking and Savings to Offer Access Up To $2 Million in FDIC Insurance

SoFi

"SoFi members – we are thrilled to announce that we will be offering the opportunity to get FDIC insurance up to $2 million on all bank balances¹, through the new SoFi FDIC Insurance Network, increasing from the industry standard $250,000 per account, over the coming days. This increased coverage is provided by allowing SoFi to seamlessly place members deposits beyond the standard insurance coverage with specifically identified FDIC insured partner banks. As always, there are zero account fees for SoFi Checking and Savings², and no fees to increase FDIC insurance coverage. All SoFi Checking and Savings members will receive emails notifying them they are now able to sign up over the coming days."
Tags: SoFi

July 13, 2020

On the web

Companies Providers

Student Lender SoFi Applies for a Bank Charter

U.S.

“Student lender Social Finance Inc has applied for a national bank charter with the U.S. Office of the Comptroller of the Currency, the company said on Thursday. A banking license would enable the company to hold customer deposits and make loans, without having to rely on a bank partner as it currently does. “We firmly believe that by pursuing a national bank charter, we will be able to help even more people get their money right with enhanced value and more products and services,” said SoFi Chief Executive Anthony Noto. The application for “SoFi Bank, National Association”, will be reviewed by the OCC, the Federal Reserve and the Federal Deposit Insurance Corporation, a spokeswoman said in a statement.”

Tags: Lenders SoFi
< Older Newer >

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Subscribe

Top Stories from Payments News

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Register now

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

Learn More

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Learn More

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.

Learn More