Wright Express, the leading fleet card provider, has applied to form a limited-purpose bank in Utah, which would expand the range of services it can offer.

The company, based in South Portland, Maine, has bought a charter and won Utah's approval, said Paul F. Walsh, president and chief executive officer of Wright Express. If the Federal Deposit Insurance Corp. approves the proposal, the new entity-to be called Wright Express Financial Services-would open in early 1998, he said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.