CEO Anthony Noto said that the personal finance start-up “thought long and hard about embarking on this path, and are proud of what we have accomplished in the last 2+ years to position ourselves to take this next critical strategic step in our development.” If granted, the move would allow SoFi, which ranked No. 8 on the 2020 CNBC Disruptor 50 list, to operate under one set of federal regulations, rather than 50 different state regulations. In addition to unifying regulatory operations, the charter would allow SoFi to lend money and accept deposits independent of the partner banks it currently works with, as well as offer more competitive interest rates for its suite of loans, checking and savings offerings.

https://www.cnbc.com/2020/07/09/fintech-disruptor-sofi-wants-to-become-a-national-bank-again.html