Thread Bank
A Tennessee bank whose FDIC order on its BaaS and loan-as-a-service programs ran from May 2024 to December 2025.
Thread Bank is a state-chartered bank in Rogersville, Tennessee, supervised by the FDIC. Its consent order FDIC-24-0022b of May 21, 2024 named the bank’s Banking-as-a-Service and Loan-as-a-Service programs. It required board-approved risk limits for each fintech partner, documented risk assessments and monitoring of fintech partners, an exit plan covering third-, fourth- and fifth-party providers, and written BaaS and LaaS policies including steps to unwind third-party business lines. The FDIC terminated the order on December 22, 2025.
- Country
- United States
- Primary federal regulator
- FDIC
- State regulator
- Tennessee Department of Financial Institutions
- Charter type
- State-chartered commercial bank, not a Federal Reserve member
- FDIC certificate number
- 9499
- Publicly announced fintech partners
- Toast (Toast checking: banking services provided by Thread Bank)
Currence
Unit (announced Thread Bank as a bank partner in August 2022) - Enforcement actions (regulator records)
Document Regulator Issued Status FDIC-24-0022b consent order (BaaS and loan-as-a-service programs) FDIC May 21, 2024 Terminated Dec 22, 2025 - Date checked
Questions
Is Thread Bank still under an FDIC consent order?
What did the Thread Bank order require?
Which fintechs work with Thread Bank?
See also
- Sponsor-bank enforcement tracker
- Unit, a BaaS platform that names Thread Bank as a partner
- Lineage Bank, another Tennessee bank with a BaaS order
Sources
Source: FDIC BankFind, the FDIC, OCC and Federal Reserve enforcement records and state regulators’ orders, plus partner announcements by the banks or fintechs, as linked in each profile. How we build and refresh profiles: methodology.