TabaPay Plans to Buy Transact Bank: Fed Comments Due Oct 14

TabaPay plans to buy Denver's Transact Bank and rename it TabaBank, but nothing is approved or closed yet. Fed comments are due Oct 14, 2026.

The payments processor announced the plan on Sept 2, 2026. The deal needs approval from the Federal Reserve Board and the OCC. The Fed application appeared in the Federal Register on Sept 14, and the public comment window runs through Oct 14. TabaPay says a national bank charter would bring its payments products under one bank, with direct access to Fed services like FedNow and ACH. The purchase price has not been disclosed, and skeptics point to the regulatory road ahead.

In this OnlyFintechs episode we walk through what was announced and what is still pending:

• What TabaPay announced on Sept 2, and what is still pending
• What the Federal Register notice says, and who can comment until Oct 14
• Why a payments processor wants a charter instead of relying only on sponsor banks
• What TabaPay says stays the same, and what skeptics say
• What still has to happen: Federal Reserve Board and OCC approval, with no closing yet

Keywords: TabaPay, Transact Bank, TabaBank, bank charter, OCC, Federal Reserve, bank holding company, FedNow, sponsor banks, banking as a service, fintech bank acquisition, payments.

#TabaPay #BankCharter #FintechM&A #Payments #FedNow #BaaS #Fintech #PodcastDrop