Lorum seeks national trust bank charter

Clearing and treasury infrastructure provider Lorum has officially filed an application to obtain a national trust bank charter. The company articulated that this move represents the fulfillment of its core founding principle. Lorum believes the current correspondent banking system's issues stem not from technological limitations or regulatory frameworks, but rather from inherent structural problems. By seeking a bank charter, Lorum aims to address these systemic inefficiencies and enhance its service offerings within the financial infrastructure landscape.