30 July 2026 • 1 minute read
DLA Piper advises OneSource Virtual on launch of national trust bank
DLA Piper advised OneSource Virtual (OSV), a leading provider of HR and payments services, on the launch of OneSource Virtual Trust Bank, N.A. (OSVTB), a federally chartered national trust bank regulated by the Office of the Comptroller of the Currency. The charter became effective July 1, 2026.
As a limited-purpose trust bank, OSVTB will hold and manage customer funds projected to exceed US$250 billion annually in a fiduciary capacity. OSVTB does not accept deposits, extend loans, or offer accounts to the public.
The DLA Piper deal team was led by Partner Jeffrey Hare and included Of Counsel Christopher Steelman and Adam Dubin (all Washington, DC).
DLA Piper’s Financial Services Sector brings together more than 1,000 lawyers worldwide to advise banks, funds, alternative capital providers, crypto issuers, custodians and exchanges, fintechs, payment service providers, broker dealers, and other financial services industry participants. We help clients with high-stake transactions and complex regulatory, enforcement, and litigation risk management, while driving innovation and growth. With a presence in every major financial hub, we deliver seamless, full-service legal support to achieve our client’s strategic business objectives.
As a limited-purpose trust bank, OSVTB will hold and manage customer funds projected to exceed US$250 billion annually in a fiduciary capacity. OSVTB does not accept deposits, extend loans, or offer accounts to the public.
The DLA Piper deal team was led by Partner Jeffrey Hare and included Of Counsel Christopher Steelman and Adam Dubin (all Washington, DC).
DLA Piper’s Financial Services Sector brings together more than 1,000 lawyers worldwide to advise banks, funds, alternative capital providers, crypto issuers, custodians and exchanges, fintechs, payment service providers, broker dealers, and other financial services industry participants. We help clients with high-stake transactions and complex regulatory, enforcement, and litigation risk management, while driving innovation and growth. With a presence in every major financial hub, we deliver seamless, full-service legal support to achieve our client’s strategic business objectives.