# Federal Register #2026-21894

Federal Reserve review of Upstart Holdings bank holding company application

**Buyer:** Federal Reserve System
**Posted:** October 27, 2026
**Respond By:** November 27, 2026
**Identifier:** 2026-21894

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](https://www.federalregister.gov/documents/2026/10/27/2026-21894/formations-of-acquisitions-by-and-mergers-of-bank-holding-companies)