In an escalating confrontation between federal oversight proponents and the booming fintech sector, two prominent U.S. senators have formally called on the nonbank lender OppFi to immediately withdraw its application to acquire Arizona-based BNCCORP and its subsidiary, BNC National Bank. The intervention by Sens. Chris Van Hollen (D-MD) and Elizabeth Warren (D-MA) marks a significant…
July 16, 2026 In a move that has sent shockwaves through the consumer advocacy community and financial regulatory circles alike, Opportunity Financial (OppFi)—a prominent provider of high-interest installment loans—has formally petitioned federal authorities for approval to acquire BNC Bank. If successful, this acquisition would facilitate the creation of "OppFi Bank," a national institution that would…
July 16, 2026 — In a move that consumer advocates are calling a "predatory pivot," Opportunity Financial (OppFi), a prominent fintech lender known for offering high-cost installment loans, has petitioned the Trump Administration for approval to acquire BNC Bank. If successful, the acquisition would transform the institution into "OppFi Bank," effectively granting the lender a…
