Community Federal Savings Bank
Also a provider — view Community Federal Savings Bank’s profile →“Can a small NY community thrift survive being one of the largest cross-border fintech sponsor banks in the US under sustained regulatory remediation?”
Founded 2001 as a small NY community thrift, CFSB pivoted around 2016 into Banking-as-a-Service, becoming one of the go-to US sponsor banks for fintechs — powering Wise, Revolut, Payoneer, Chime-adjacent apps, cross-border payment processors, and card programs. Its payment-processing line grew dramatically after 2020, particularly cross-border wire and ACH flows involving foreign financial institutions. That growth attracted regulatory attention: an FDIC consent order in Feb 2024 and an OCC consent order in April 2026 both cited BSA/AML and third-party risk management deficiencies, marking the current phase of CFSB's story as a remediation-heavy sponsor bank under active regulatory scrutiny.