What Does SoFi Becoming A National Bank Mean For Shareholders? SOFI Stock

SoFi Technologies (SOFI) announced that the company received regulatory approval to become a National Bank. This is a massive achievement for SOFI. SOFI will become a Bank Holding Company through its proposed acquisition of Golden Pacific Bancorp and operate its bank subsidiary as SoFi Bank, National Association. SOFI expects the acquisition of Golden Pacific Bancorp to close in February 2022, subject to the remaining customary closing conditions.

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