CFPB Monitor

JANUARY 5, 2021

federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. federal district court challenging the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. The Conference of State Bank Supervisors (CSBS) has filed a lawsuit in D.C.

Conference 78

Conference Technology District of Columbia FDIC 78

PYMNTS

AUGUST 16, 2019

15) that it will launch regional commercial banking operations in New York and Los Angeles in an effort to grow its corporate client base and connect existing business customers in the markets with its senior banking professionals. and offer clients FDIC-insured accounts. The bank announced Thursday (Aug.

Los Angeles 101

Los Angeles New York FDIC Lending 101

American Banker

SEPTEMBER 13, 2016

New York Gov. The plan, the first of its kind in the nation, could have far-reaching effects on some of the nation's largest banks. Andrew Cuomo on Tuesday announced the proposal of a state regulation requiring banks to develop and maintain a cybersecurity program.

New York 28

New York National Regulation Cyber Security 28

PYMNTS

APRIL 24, 2019

Of course, those more than beat the national average on checking accounts, which is currently at a 0.08 In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits.

FDIC 108

FDIC New York Community Bank Course 108

CFPB Monitor

MAY 4, 2021

federal district court seeking to block the OCC from granting a national bank charter to Figure Technologies Inc. The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. The first two lawsuits were dismissed on ripeness grounds.

Technology 78

Technology National Regulation FDIC 78

CFPB Monitor

SEPTEMBER 10, 2020

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

Utah 78

Utah California FDIC West Virginia 78

PYMNTS

JULY 21, 2019

The South Dakota Trust Charter allows companies to operate on a national level so you can serve clients from every state. And surprisingly, South Dakota is one of the largest holders of institutional assets in the country, more than $3 trillion, according to the FDIC — three times the size of New York, followed only by Ohio.”.

South Dakota 134

South Dakota Bitcoin cryptocurrency Ohio 134

PYMNTS

MARCH 4, 2019

As had been reported late last month, in New York City, the city council held a hearing centered on a bill that would ban stores and restaurants from being able to refuse to accept cash. In terms of the New York legislation (Intro. In terms of the New York legislation (Intro.

Retail 129

Retail New York City New York New Jersey 129

CFPB Monitor

MAY 16, 2019

As a result, it would not provide an alternative for fintech companies that are considering filing an application with the OCC for a special purpose national bank (SPNB) charter or for an industrial bank charter in a state such as Utah, that permits such charters. For more on the proposal, see the attached discussion.

Utah 68

Utah Fintech New York National 68

CFPB Monitor

MARCH 15, 2022

A California federal district court judge recently rejected the California AG’s challenge (in which other states joined) to the FDIC’s rule and, in a separate lawsuit, also rejected a challenge by the California AG and other state AGs to the OCC’s Madden -fix rule codified at 12 C.F.R. Section 7.4001(e).

California 78

California Innovation Utah West Virginia 78

CFPB Monitor

MAY 6, 2019

In doing so, the court found that the term “business of banking” as used in the National Bank Act (NBA) “unambiguously requires receiving deposits as an aspect of the business.”. National Resources Defense Council, Inc. The court’s textual analysis started with a review of the powers of national banks under the NBA.

Fintech 68

Fintech New York National Regulation 68

Abrigo

JANUARY 22, 2015

Over the first half of 2014, these banks, with an approval rate of just under 60 percent, beat out large national banks (31 percent), large regional banks (45 percent) and online lenders (38 percent). Its goal was to capture the perspectives of small businesses with less than 500 employees across ten states.

Community Bank 150

Community Bank Community Regional Cleveland 150

PYMNTS

NOVEMBER 9, 2017

The proposal by the OCC was made at a banking conference in New York. Needless to say, the nation’s small banks and their representatives are less than wholly thrilled. I don’t think Amazon wants to become a bank,” he said during a CEO roundtable at an industry conference in New York Tuesday.

Regulation 100

Regulation Retail New York Apple 100

Jeff For Banks

MARCH 3, 2018

When I wrote that post in January 2011 there were 7,700 FDIC insured financial institutions. They can be a strategic shift of your franchise, a new product line, or a new operating environment. In the above blog post, I discussed Apple and Bank of New York Mellon. Did I get caught up in the change-or-die crowd?

Apple 67

Apple Millennials Massachusetts FDIC 67

Jeff For Banks

FEBRUARY 6, 2011

The FDIC has nearly quadrupled its enforcement actions (“EA”) over the past three years. Bay National failed on July 9th. bank regulation banking banks Bay National Bank credit unions enforcement action FDIC formal agreement Jeff Marsico Kafafian OCC subk Suffolk Bancorp Suffolk County National Bank'

Regulation 73

Regulation FDIC National Capital 73

Jeff For Banks

MAY 20, 2017

and New York Community Bancorp called off their planned merger. To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending. Ample time to look down the road towards our next recession. And regulators are getting anxious.

Lending 60

Lending Regulation Community Community Bank 60

Independent Banker

FEBRUARY 24, 2016

New inspirations, fresh experiences await at ICBA’s national convention. It’s Community Banking LIVE 2016 in New Orleans. ICBA’s national convention offers an educational lineup this year of more than 60 workshops and networking sessions. So we want our checking accounts to be FDIC insured. Jack Hartings.

Community Bank 70

Community Bank Community Innovation Customer Experience 70

Fintech Labs Insights

JULY 19, 2016

” MaxMyInterest’s intelligent cash management platform helps savers earn higher yields while maintaining FDIC protection. Founded in 2013 and headquartered in New York, MaxMyInterest demonstrated its technology at FinovateFall 2014.

FDIC 12

FDIC New York System Software 12

Gonzobanker

AUGUST 22, 2014

Mid-size banks are in the proverbial catbird seat – they can offer most of the products and sophistication of the top national banks combined with the service culture, community involvement, and local market knowledge of a smaller community bank.

Strategy 87

Strategy United States Community New York City 87

Independent Banker

APRIL 30, 2022

Brazos National Bank. Douglas National Bank. FSNB, National Association. Pioneer Trust Bank, National Association. AMG National Trust Bank. HNB National Bank. Leader Bank, National Association. BNC National Bank. Stearns Bank National Association. By William Atkinson. Philadelphia.

Community Bank 172

Community Bank Community Montana Taxes 172

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. American Bank, National Association. Classic Bank, National Association. The First National Bank In Sioux Falls. Dakota Community Bank & Trust, National Association. The Miners National Bank of Eveleth. By Ed Avis.

Community Bank 172

Community Bank Community National Philadelphia 172

PYMNTS

SEPTEMBER 21, 2020

The consortium reports that suspicious activity reports were filed by a few large banks: In terms of a report “tally,” Deutsche Bank filed 982, Bank of New York Mellon had 325, Standard Chartered Bank filed 232 and J.P.Morgan Chase had 107. In terms of dollar amounts, Deutsche led the pack at $1.3

Fraud 347

Fraud Report System FDIC 347

PYMNTS

MARCH 2, 2018

For those not used to thinking about electricity by the gigawatt, the estimates mean this: Even at the low end, bitcoin mining uses as much power as a nation state. The debate is whether that nation state is small (Lithuania-sized), medium (Morocco-sized) or medium-large (Israel-sized). For the mayor of Plattsburgh, New York, Colin L.

Bitcoin 104

Bitcoin cryptocurrency Taxes Community 104

CB Insights

DECEMBER 4, 2019

Today, 22 Amazon Go stores are live in Seattle, New York, San Francisco, and Chicago. The 2017 FDIC National Survey of Unbanked and Underbanked Households shows: Approximately 6.5% It grants access to the store and allows customers to grab-and-go without needing to physically check out to pay for products. adults and 6.4M

Cards 101

Cards Lending Strategy US 101

NCR

FEBRUARY 24, 2016

So last year, the New York resident left the big bank, setting up an account with Simple, an FDIC-insured direct bank based in Portland, Oregon, where he can do all of his banking online – without any monthly fees. “I In fact, some of the new banks don’t have branches anywhere!

Millennials 40

Millennials Survey Portland Oregon 40

Abrigo

JULY 22, 2022

Takeaway 2 While these financial products are appealing, the lack of stability and consumer protections surrounding them are a concern for the FDIC. ? . Takeaway 3 Financial institutions should notify the FDIC of crypto-related activity and be familiar with the risks of the cryptocurrency world. . A new and unpredictable market.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

Jeff For Banks

APRIL 14, 2022

A Primer on Money, Banking, and Gold 2008 Cordelia Frances Biddle Biddle, Cordelia Frances Biddle, Jackson, and a Nation in Turmoil: The Infamous Bank War 2021 Alan S. Inside the FDIC: Thirty Years of Bank Failures, Bailouts, and Regulatory Battles 2015 Louis D. The Courage to Act: A Memoir of a Crisis and Its Aftermath 2015 Peter L.

America 78

America National Denver United States 78

CFPB Monitor

OCTOBER 13, 2020

We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as the “true lender” when, as of the date of origination, it is named as the lender in a loan agreement or funds the loan.

Lending 60

Lending Colorado FDIC National 60

CFPB Monitor

DECEMBER 18, 2020

The Attorneys General of California, Illinois, and New York have filed a motion for summary judgment in their lawsuit filed against the Office of the Comptroller of the Currency (OCC) to enjoin the OCC’s final rule purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC District of Columbia North Carolina New Jersey 78

CFPB Monitor

FEBRUARY 19, 2021

The Attorneys General of California, Illinois, and New York have filed their opposition to the OCC’s cross-motion for summary judgment in their lawsuit to enjoin the OCC’s final rule (Rule) purporting to override the Second Circuit’s Madden decision as to national banks and federal savings associations.

FDIC 78

FDIC National Illinois Exercises 78