US EditionPayments firm PayPal files for bank charter in lending push
PayPal seeks to enhance small-business lending and offer FDIC-insured deposits through a Utah-chartered bank, having provided over $30 billion in loans worldwide since 2013.
- On Dec. 15, 2025, PayPal Holdings, Inc. filed applications with the Utah Department of Financial Institutions and the Federal Deposit Insurance Corporation to form PayPal Bank, a proposed Utah-chartered industrial loan company.
- To broaden services for U.S. small businesses, PayPal seeks the charter so it can expand loans and interest-bearing savings accounts, saying "Securing capital remains a significant hurdle for small businesses striving to grow and scale" .
- Mara McNeill was named PayPal Bank's president, with over 25 years' experience and former CEO of Toyota Financial Savings Bank; PayPal Bank would seek direct U.S. card-network membership and FDIC insurance for deposits.
- Shares of PayPal rose 1.5% in extended trading following the announcement, but the release cautioned that regulatory approval may not be obtained and highlighted forward-looking statements risks.
- The charter would position PayPal amid fintechs moving into banking, as PayPal said it would pursue new opportunities and bolster business with new revenue streams while new ties to card networks would complement banking partners.
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Trump era opens banking license for fintechs
The News“It’s not the plan,” PayPal’s CEO said in April when Semafor asked him whether the fintech giant planned to turn itself into a regulated bank. “We’ve kept it very balance-sheet-light, and we’ll let banks do what banks do really well.”Fast forward eight months and PayPal is becoming a bank. The company applied to Utah’s state regulators for a slimmed-down license that would allow it to take federally insured deposits and make loans to its…
PayPal Bank on cards? Global payments giant seeks banking charter amid lending push in US — all you need to know
Payments giant PayPal has filed its banking charter application with US regulators to become a bank amid a broader push for fintech and crypto companies that are seeking a licence to expand their lending operations among customers and small businesses.
PayPal applies to become a bank under Trump's looser financial rules
PayPal is the latest company looking to become a bank in the US. On Monday, the company announced it had submitted applications for PayPal Bank to the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI). PayPal is already a bank in Europe, based in Luxembourg. According to PayPal, it has provided "over $30 billion in loans and working capital" for more than 420,000 business accounts globally. Pa…
PayPal wants to become a bank. The company has submitted the necessary documentation to the Federal Deposit Insurance Corp and the Utah Department of Financial Institutions. (ANSA)
PayPal Wants to Become a Bank - Tech Startups
Fintech giant PayPal has applied for regulatory approval to launch PayPal Bank, expanding small business lending and interest-bearing savings as it pushes deeper into financial services. PayPal’s Banking Ambitions Grow as Company Applies to Launch PayPal Bank PayPal is taking a decisive step beyond payments. On Monday, the company said it has applied for approval
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