Bank Innovation

JULY 17, 2019

Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking license with the Federal Deposit Insurance Corporation (FDIC) this week. The company confirmed this development as part of a $100 million Series C fundraising round announced on Tuesday.

FDIC 244

FDIC Digital Banking Company Capital 244

CFPB Monitor

AUGUST 4, 2022

The FDIC has issued an “Advisory to FDIC-insured institutions Regarding Deposit Insurance and Dealings with Crypto Companies ” to address the agency’s concerns regarding misrepresentations about FDIC deposit insurance by certain crypto companies. The FDIC identifies two issues that can create customer confusion.

FDIC 78

FDIC Risk Management Policies Regulation 78

Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

FDIC 195

FDIC Regulation Strategy Data 195

CFPB Monitor

DECEMBER 22, 2020

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs).

FDIC 78

FDIC Capital National Regulation 78

CFPB Monitor

APRIL 8, 2021

The rule established a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amended the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions.

FDIC 78

FDIC Resources Regulation Compliance 78

ABA Community Banking

NOVEMBER 30, 2021

FDIC-insured banks and savings institutions earned $69.5 increase from a year before, the FDIC reported today in its Quarterly Banking Profile. The post FDIC: Bank Profits Up in Third Quarter as Capital, Liquidity Levels Remain Strong appeared first on ABA Banking Journal. billion in the third quarter of 2021, a 35.9%

FDIC 59

FDIC Capital Report Community Bank 59

Bank Innovation

JULY 9, 2018

It plans to reapply with the FDIC, but did not reveal […]. Payment processor Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application last fall.

FDIC 210

FDIC Online Payments Operations 210

CFPB Monitor

DECEMBER 28, 2020

The FDIC has issued a final rule setting forth the conditions it will impose and the commitments it will require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 78

FDIC Industry Policies Company 78

CFPB Monitor

JUNE 13, 2022

One issue raised in the RFI is “to what extent should the CFPB be consulted by the FDIC when considering the convenience and needs factor and should that consultation be formalized?”. Whether the FDIC finds these arguments persuasive is yet to be seen.

FDIC 78

FDIC Groups Community Meeting 78

Abrigo

DECEMBER 2, 2014

To provide a report card on industry status and performance, the FDIC publishes a Quarterly Banking Profile. The FDIC maintains a problem bank list, defined as “institutions with financial, operational or managerial weaknesses that threaten their continued financial viability.” Problem Bank List Continues to Decrease.

Community Bank 207

Community Bank FDIC Community Industry 207

ABA Community Banking

JUNE 15, 2021

The FDIC proposed changes to its guidelines for real estate lending policies in order to align standards with the community bank leverage ratio, which does not require electing institutions to calculate tier 2 capital or total capital.

FDIC 51

FDIC Lending Guidelines Community Bank 51

PYMNTS

MARCH 5, 2019

According to a report in CNBC , the San Francisco startup said the Series D round of venture funding was led by DST Global , as well as new investors Coatue, General Atlantic, ICONIQ Capital and Dragoneer Investment Group. Chime noted in its press release that it began March with more than three million FDIC bank accounts.

Capital 116

Capital San Francisco FDIC Leadership 116

ABA Community Banking

SEPTEMBER 17, 2019

The FDIC today approved a final rule allowing community banks with a leverage capital ratio of at least 9% to be considered in compliance with Basel III capital requirements and exempt from the complex Basel Calculation. The post FDIC Final Rule Sets Community Bank Leverage Ratio at 9% appeared first on ABA Banking Journal.

Community Bank 66

Community Bank FDIC Community Capital 66

CFPB Monitor

APRIL 22, 2019

The FDIC describes the catalyst for the event as the belief that “at the intersection of research and experience lies good public policy.”. The conference features a brief introduction with Treasury Secretary Steven Mnuchin and FDIC Chairman Jelena McWilliams.

FDIC 68

FDIC Conference Arlington Fintech 68

PYMNTS

JULY 25, 2018

Cabot Square Capital, a U.K. With a specialty in car loans, 321 Crédit has been a Cabot Square Capital company since 2014. With a specialty in car loans, 321 Crédit has been a Cabot Square Capital company since 2014. The move on the part of Cabot Square Capital comes at a time when big banks have been pulling back from the $1.2

Capital 108

Capital FDIC Resources National 108

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

FDIC 68

FDIC Community Lending Guidelines 68

CFPB Monitor

MARCH 24, 2020

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

FDIC 60

FDIC Taxes Industry Policies 60

CFPB Monitor

DECEMBER 20, 2018

The FDIC has issued an Advance Notice of Proposed Rulemaking (ANPR) seeking comment on its regulatory approach to brokered deposits and interest rate restrictions. The FDIC’s current regulations on brokered deposits and interest rate restrictions are set forth at 12 C.F.R. Section 337.6.

FDIC 60

FDIC Regulation Capital Analysis 60

Perficient

SEPTEMBER 6, 2023

The proposed eligible LTD requirement was calibrated primarily on the basis of what the proposed regulation refers to as a “capital refill” framework. In terms of risk-weighted assets, a covered entity’s common equity Tier 1 Capital level is subject to a minimum requirement of 4.5

Regulation 221

Regulation DC Capital Washington 221

Bank Innovation

APRIL 25, 2019

. — Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday.

Fintech 186

Fintech FDIC Washington Conference 186

American Banker

OCTOBER 4, 2023

Board Member Jonathan McKernan raised concerns Wednesday over his agency's justification for imposing higher capital on banks, saying they could give nonbanks a more competitive edge in certain activities. Federal Deposit Insurance Corp.

FDIC 66

FDIC Capital Policies Compliance 66

South State Correspondent

JULY 30, 2023

Bank ROE Historical Performance Total assets for all FDIC-insured institutions was $23.7T There are various models investors may use to assess return and risk, but the most widely used is a risk premium model called CAPM (capital asset pricing model). These intangible factors can also lower the bank’s cost of capital.

Community Bank 195

Community Bank Community Capital Policies 195

ABA Community Banking

MARCH 19, 2020

The FDIC today issued two sets of frequently asked questions addressing banker and consumer concerns related to the coronavirus pandemic. The post FDIC Issues Coronavirus-Related FAQs for Banks, Consumers appeared first on ABA Banking Journal.

FDIC 86

FDIC Community Bank Policies Capital 86

American Banker

APRIL 30, 2020

In separate letters to Congress, the Fed asked for legislative action to ease Tier 1 capital minimums while the FDIC said it may use its own authority to address the market strain on banks.

Capital 53

Capital FDIC Marketing 53

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. FDIC Update. Last April, the FDIC released an Interagency Statement titled Model Risk Management (MRM) for Bank Models and Systems Supporting BSA/AML Compliance.

Risk Management 195

Risk Management Management FDIC Meeting 195

Perficient

JANUARY 25, 2023

According to the Federal Deposit Insurance Corporation (FDIC), in 2000, there were 8,000 commercial banks in the United States, but as of March 2022, that number had dwindled to 4,194 operating physical bank branches. Another example is Eno , Capital One’s virtual assistant.

Banking Trends 474

Banking Trends Trends United States FDIC 474

South State Correspondent

NOVEMBER 9, 2016

Back in June of 2013, the FDIC, OCC, and Federal Reserve jointly approved rules intended to implement new international banking standards. Known as the Basel III Capital Accords, Basel III uses a risk weighting system to determine the capital ratios for higher risk assets.

FDIC 150

FDIC Capital Lending US 150

PYMNTS

MARCH 19, 2020

The Federal Reserve , Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency all released a joint statement saying banks that give credit to low-income Americans who are battling effects from the coronavirus and its economic reverberations would be rewarded.

Regulation 140

Regulation Lending FDIC US 140

The Financial Brand

SEPTEMBER 20, 2021

An unusual alliance, inspired by 'Shark Tank,' aims to address capital needs to help maintain banking access in communities of color. The post FDIC Recruits Microsoft & Truist to Build a Fund for Minority-Owned Banks appeared first on The Financial Brand - Banking Trends, Analysis & Insights.

FDIC 32

FDIC Banking Trends Analysis Community 32

American Banker

JUNE 22, 2023

FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

FDIC 50

FDIC Capital Regulation Policies 50

PYMNTS

OCTOBER 1, 2019

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. Federal Deposit Insurance Corporation (FDIC) data, however, shows that the industry’s overall headcount has shrunk only 16 times as of 1935.

Technology 217

Technology FDIC US Big Data 217

South State Correspondent

AUGUST 21, 2022

Second, community banks should use FDIC-insured institutions as hedge providers, and the hedges must be structured as qualified financial contracts (QFC). We see substantial risk to community banks in dealing with non-FDIC hedge providers or those not offering QFC protection – think Lehman Brothers.

How To 195

How To Community Bank Community FDIC 195

PYMNTS

DECEMBER 16, 2020

The rollout makes Quontic “the first FDIC insured financial institution in the U.S. resident and non-resident global customers can open a FDIC-insured U.S. Goldman recently ran a poll of firms that took part in the 10,000 Small Businesses initiative that helps to offer education and capital to entrepreneurs. Aeldra’s U.S.

Bitcoin 157

Bitcoin FDIC Cards California 157

Abrigo

NOVEMBER 11, 2019

An extreme focus on using ALM to manage the risk of rising rates means some FIs overlook using ALM to grow earnings and capital, putting them at risk of underperformance. FDIC FIL-46-2013 October 8, 2013. Using ALM to grow earnings and capital. ALM should be used to create value in all interest rate environments.

Management 150

Management FDIC Community Risk Management 150

Abrigo

APRIL 12, 2016

The FDIC is offering a fresh take on how a bank’s board of directors should understand and manage risk. The regulator’s April edition of Supervisory Insights provides what the FDIC called a “refresher” on its Pocket Guide for Directors, the 1988 booklet outlining the basic duties and responsibilities of a bank’s board of directors.

Management 150

Management FDIC Risk Management Community Bank 150

CFPB Monitor

JANUARY 23, 2024

On September 18, 2023, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly published and sought comments on a proposal to implement new, standardized capital requirements that would, among other things, increase capital requirements for banks with $100 billion or more in total assets.

Industry 179

Industry Capital FDIC 179

American Banker

AUGUST 1, 2023

The Federal Reserve is leading the push for broader, more standardized risk-capital rules, yet some of its board members, other regulators and industry groups are uncomfortable with the proposal.

Capital 36

Capital Regulation Groups Industry 36