India, Nov. 3 -- OppFi Inc. (OPFI) announced on Tuesday that it has withdrawn its applications with the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corporation related to its proposed acquisition of BNCCORP and its subsidiary, BNC National Bank.
The digital finance company said it had responded to extensive information requests from regulators but had not received clear standards for evaluating its business and the proposed transaction. OppFi plans to continue engaging with federal regulators to seek clearer guidelines for partnerships between community banks and financial technology companies.
Despite the withdrawal, OppFi reaffirmed its revised fiscal 2026 guidance, projecting revenue...