Block Inc applies to OCC to establish Builders Bank & Trust
Block, Inc. (NYSE: XYZ) said it submitted an application to the Office of the Comptroller of the Currency to establish Builders Bank & Trust, N.A., an uninsured national trust bank. Approval would enable federal regulation.
Block, Inc. said it has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Builders Bank & Trust, N.A. (Builders Bank), an uninsured national trust bank. If approved, Builders Bank would operate as a federally regulated national trust bank.