"The Office of the Comptroller of the Currency granted the preliminary approval to Erebor, a new Columbus, Ohio-based digital bank launched by Luckey, the entrepreneur best known for creating Oculus VR and Anduril Industries. "Erebor is the first de novo bank to receive a preliminary conditional approval since I arrived at the OCC," Comptroller of the Currency Jonathan Gould said in a statement on Wednesday."
"In an industry known for polarizing figures, Luckey, 33, has become one of Silicon Valley's most prominent examples. He first gained recognition in 2013 as the teenage founder of Oculus VR. The technology quickly made waves - Facebook considered Oculus to be so valuable that it acquired it in 2014 for $2 billion, and the next year, Luckey landed on a viral cover of Time magazine while wearing the virtual reality headset."
The Office of the Comptroller of the Currency granted preliminary approval to Erebor, a Columbus, Ohio-based digital bank launched by Palmer Luckey. Comptroller Jonathan Gould characterized the approval as a first de novo preliminary conditional approval since his arrival and framed it as a step toward a dynamic, diverse federal banking system. Palmer Luckey gained prominence as the teenage founder of Oculus VR, which Facebook acquired in 2014 for $2 billion, and he later founded defense firm Anduril Industries. Luckey has a reported net worth of about $3.6 billion and has drawn scrutiny for political donations and activities.
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