Overview
- The orders are legally binding as of 10 and 13 December 2025 and include higher own‑fund requirements and targeted business restrictions.
- N26 is barred from issuing new mortgage loans in the Netherlands and from securitizing claims from that business.
- A BaFin‑appointed special commissioner will monitor implementation of the regulator’s requirements and report on progress.
- N26 says it is cooperating with supervisors and accelerating governance, process and control reforms that have been underway since early 2025.
- The escalation follows years of supervisory action, including fines of €4.25 million in 2021 and €9.2 million in 2024, and leadership changes such as co‑founder Valentin Stalf leaving the management board in 2025.