American Banker

JULY 21, 2023

The Minnesota Bankers Association and Lake Central Bank jointly filed a lawsuit against the Federal Deposit Insurance Corp. over its nonsufficient funds fee rules' inclusion of "unfair or deceptive acts or practices" violations in its policy.

Minnesota 28

Minnesota FDIC Policies Compliance 28

American Banker

SEPTEMBER 20, 2023

The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue. The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry.

FDIC 36

FDIC Minnesota Industry Compliance 36

CFPB Monitor

AUGUST 25, 2020

The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.

FDIC 78

FDIC District of Columbia North Carolina Illinois 78

Independent Banker

OCTOBER 1, 2022

Regulators paying closer attention to cyber risks. Bank regulators have become keenly aware of how a cyber event could impact the financial stability of a bank, bank customers and also bank employees,” says Jared Gentile, assistant vice president, bond and specialty insurance at Travelers. Beth Mattson-Teig is a writer in Minnesota.

Montana 152

Montana Policies Resources FDIC 152

Abrigo

APRIL 21, 2020

Key Takeaways Financial institutions have 10 calendar days to disburse PPP loans To address financial institutions’ liquidity and leverage concerns, regulators have helped to facilitate lending. To address financial institutions’ liquidity and leverage concerns, regulators have helped to facilitate lending. How to fund PPP loans.

Lending 195

Lending Capital Minnesota FDIC 195

Jeff For Banks

AUGUST 2, 2021

One of my tweeps (Twitter friends), is Andy Schornack, CEO of Flagship Bank Minnesota, based in Wayzata. 2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. I suggest following Andy on Twitter. million in loans.

Community Bank 78

Community Bank Community Minnesota Metro 78

Fintech Labs Insights

SEPTEMBER 3, 2020

But regulators are not exactly on board. And more recently, Lending Club has a $185M acquisition of Radius Bank pending, though the lender’s $80M Q2 loss is not going to help ease regulators’ concerns. You’d think that Jiko was looking to leverage FDIC insurance to put its customers at ease. CBW Bank in a similar category.

Fintech 15

Fintech FDIC Oakland Minnesota 15