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AP National Business

Berlin-based online bank N26 quits US market

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KMIZ

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Published 6:10 AM

BERLIN (AP) — Berlin-based online bank N26 is shuttering its business in the United States after two years and focusing its expansion efforts on Eastern Europe. N26 said on Thursday that it would wind down its business in North America by Jan. 11. It said that “as far as possible, the company will help all U.S. employees find open positions in the global business activities.” The bank claims to have 7 million customers in 25 countries, including about half a million in the United States. Earlier this month, German regulators placed a limit on the number of new customers N26 can accept to 50,000 per month, following concerns about its money laundering oversight.

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