Affirm Files Applications to Form Industrial Loan Company

MT Newswires Live

01/23

Affirm (AFRM) said Friday it filed paperwork with the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation to create a chartered industrial loan company.

The proposed company, Affirm Bank, would be a fully owned subsidiary based in Nevada with its own board and regulatory oversight, Affirm said.

The move is intended to provide more flexibility and variety to current operations while supporting the development of new financial tools, the company added.

Shares of the company fell 1% in recent trading.

Price: 72.10, Change: -0.73, Percent Change: -1.01

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