Federal Register #2026-21894

Federal Reserve review of Upstart Holdings bank holding company application

The Federal Reserve notice concerns bank-holding-company regulatory applications, not a procurement opportunity. - Government agency: Federal Reserve System; the Federal Reserve Bank of San Francisco is identified as the reviewing Reserve Bank. - Applicant: Upstart Holdings, Inc., of Burlingame, California. - Application: Upstart Holdings seeks approval to become a bank holding company by acquiring Upstart Bank, National Association, and to retain affiliated entities including Upstart Network, Inc.; Upstart Auto, LLC; Upstart Funding II, LLC; Upstart Funds GP, LLC; and various Upstart trusts and special-purpose entities. - Activities covered: Extending credit and servicing loans; asset management; loan servicing and collection; and data processing, storage, and furnishing services. - Procurement details: No products, part numbers, quantities, contract value, or period of performance are specified. No OEMs or commercial suppliers are identified.

Description

The notice concerns applications for Federal Reserve approval under the Bank Holding Company Act, Regulation Y, and other applicable statutes and regulations. The applications seek approval to become a bank holding company and/or acquire assets, ownership, control, or voting power over banks or bank holding companies and their subsidiaries. The notice includes an application by Upstart Holdings, Inc. to become a bank holding company by acquiring Upstart Bank, National Association, and to retain specified affiliates and engage in listed financial activities. Comments must be received by November 27, 2026.

View original listing