Enova International withdraws bank regulator applications for Grasshopper Bancorp acquisition

Enova International, the US online lender, has withdrawn its applications to the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System relating to its proposed acquisition of Grasshopper Bancorp, Inc., according to a Form 8-K filed with the Securities and Exchange Commission on 14 September 2026.

In the press release furnished with that filing, chief executive Steve Cunningham said bank regulatory guidelines had not kept pace with the credit needs of consumers and small businesses underserved by traditional banks, and that regulators did not have clear standards for non-banks seeking to become banks.

The release does not say whether the merger agreement itself has been terminated, and does not mention any plan to refile. Enova said it would continue to use its existing products and new ones to meet customers' credit needs, reaffirmed its full-year 2026 guidance of 20–25% revenue growth and 30–35% growth in adjusted earnings per share, and said it planned to accelerate share repurchases.

Three days later, on 17 September, HWC Receivables 2023, LLC, a wholly owned indirect subsidiary of Enova, amended its HWCR 2023 securitisation facility, according to a further 8-K. After the amendment the facility carries total commitments of $535m — $400m of Class A and $135m of Class B — with a revolving period running to March 2028 and final maturity in March 2029. The filing names Headway Capital, LLC as originator.

Enova filed three 8-Ks in the seven days to 17 September, against an expected rate of 0.23 filings a week based on the preceding 90 days.

The filings do not state whether the facility amendment is connected to the withdrawal. Loro has made no approach to the company. Figures are as reported in Enova's SEC filings.