Robinhood confirmed via email on Wednesday that it submitted an application to the Office of the Comptroller of the Currency (OCC) for a national bank charter. “Robinhood’s goal is to be able to offer its customers a full suite of financial products to service their needs,” according to a statement made by Robinhood via email to Bankrate. “To that end, Robinhood Financial, LLC, one of our broker-dealers, plans to offer customers a cash management feature within their brokerage accounts. More information will be shared later.”

https://www.bankrate.com/banking/robinhood-charter-fdic-application/