PYMNTS

FEBRUARY 7, 2020

In the United States, by 2016, it grew to 1 million subscribers and 6 million by October 2018. The Robinhood cash management feature is offered in partnership with a bank, and includes debit cards, and, critically, deposits backed by the Federal Deposit Insurance Corporation (FDIC).

United States 150

United States FDIC Millennials cryptocurrency 150

PYMNTS

DECEMBER 2, 2020

Step customers get a bank account that is insured by the FDIC, as well as a secured spending card backed by Visa and the P2P payments platform. Teens have long been drivers of commerce and the 86 million born between 1997 and 2016 influence some $600 billion of spending by families.

Fintech 217

Fintech FDIC Resources Management 217

American Banker

SEPTEMBER 6, 2016

’s recent statements encouraging new bank applications are promising, but some barriers to new charters may remain inside the FDIC and we are still waiting for the first de novo of 2016. The Federal Deposit Insurance Corp.’s

FDIC 28

FDIC Policies Community Bank Community 28

MyBankTracker

AUGUST 6, 2020

2016 66.07%. 2016 35.21%. 2016 16.67% 49.52%. 2016 16.67% 49.52%. 2016 11.96% 32.95%. Sources: FDIC. 2017 FDIC National Survey of Unbanked and Underbanked Households. Year Percentages. 2017 63.66%. 2018 61.92%. 2019 70.23%. Year Percentages. 2017 36.48%. 2018 38.94%. 2019 45.56. 2017 20.63% 30.80%.

Survey 52

Survey FDIC United States Study 52

PYMNTS

JANUARY 13, 2021

FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. While representatives for the Fed, FDIC and Treasury did not respond to requests for comment, reports said they are looking into whether American Express deployed deceptive sales practices, with allegations of misrepresented reward programs.

Cards 167

Cards Apple FDIC Samsung 167

PYMNTS

OCTOBER 24, 2019

The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have given FinTechs a leg up on competing with traditional financial services companies. But Federal Deposit Insurance Corporation (FDIC) coverage — which protects deposits — proved a sticking point this week.

Fintech 101

Fintech FDIC New York National 101

CFPB Monitor

NOVEMBER 21, 2016

On December 1, 2016, the FDIC will co-host an interagency webinar that will focus on Military Lending Act regulations and the Department of Defense’s recently-released interpretive rule. In addition to a CFPB representative, the other webinar participants will consist of representatives of the FDIC, OCC, and Federal Reserve. .

FDIC 60

FDIC Lending Regulation 60

PYMNTS

MAY 4, 2020

Last year, the company announced it had over 10 million users , up from 1 million in 2016. By partnering with a bank, users can access the service, which has debit cards and is backed by the Federal Deposit Insurance Corporation (FDIC). percent interest on the money they didn’t have in stocks.

FDIC 131

FDIC Fintech Millennials Management 131

PYMNTS

OCTOBER 27, 2019

However, federal data showed that Wells Fargo has been cutting back on its agricultural loans, with its Federal Deposit Insurance Corporation (FDIC)-insured units slashed $1.24 percent, between the end of December 2016 and June 30 of this year. billion, or 15.3

South Dakota 104

South Dakota North Dakota Wyoming Idaho 104

PYMNTS

OCTOBER 27, 2019

However, federal data showed that Wells Fargo has been cutting back on its agricultural loans, with its Federal Deposit Insurance Corporation (FDIC)-insured units slashed $1.24 percent, between the end of December 2016 and June 30 of this year. billion, or 15.3

Lending 103

Lending South Dakota North Dakota Wyoming 103

PYMNTS

DECEMBER 12, 2019

The cash management feature is offered in partnership with a bank, and has debit cards, as well as deposits backed by the Federal Deposit Insurance Corporation (FDIC). It quickly expanded to 1 million subscribers in 2016, and 6 million by October of 2018. Last year’s checking and savings product did not have a bank partnership. .

FDIC 135

FDIC Millennials Management Fintech 135

Abrigo

MARCH 3, 2022

According to FDIC data, in 2016, commercial banks reported 23 million total small business loans, an increase of 4 million from 2010, with an aggregate loan balance unchanged of just over $627 billion. Changing Lending Environment. Small businesses are turning to small lenders.

Lending 195

Lending Community Marketing Community Bank 195

PYMNTS

JANUARY 24, 2019

” The company pointed to analysis from the FDIC , whose 2018 Small Business Lending Survey found that only a few banks in the U.S. Goldman Sachs provided a $100 million credit facility to Fundation in 2016, another example of traditional financial institutions’ interest in collaborating with alternative finance players.

California 122

California Lending FDIC Online 122

CFPB Monitor

JULY 15, 2021

The Federal Reserve, FDIC, and OCC have released proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements.

Risk Management 78

Risk Management Management FDIC Compliance 78

CFPB Monitor

MAY 6, 2021

In 2016, the OCFR brought an enforcement action against CashCall, a nonbank operating a high-rate bank model program. In addition, legal challenges to the OCC and FDIC “ Madden -fix” rules and the OCC’s “true lender” rule continue to create uncertainty for participants. million in penalties against CashCall.

Maryland 78

Maryland Lending Missouri FDIC 78

Jack Henry

AUGUST 10, 2016

In a recent FDIC report titled “Brick and Mortar Banking Remains Prevalent in an Increasingly Virtual World” and Brett King’s article “What the FDIC study on bank branches misses and it’s a massive hole” , there is a healthy discussion of this topic – how many times do clients visit your branch? visits per year to 1.3 visits per year.

FDIC 60

FDIC Study US Report 60

PYMNTS

OCTOBER 31, 2016

which has prompted lawmakers to spend part of 2016 looking into shortfalls in FDIC cybersecurity policies. A committee spokeswoman said it will work to ensure the OCC “responds to the incident appropriately, remediating any potential damaging effects to sensitive information” housed on its systems, added WSJ.

Data 100

Data FDIC Policies Report 100

CFPB Monitor

NOVEMBER 10, 2016

On November 9, 2016, the Federal Reserve hosted a webinar on overdraft practices. In addition to a CFPB representative, the presenters included representatives from the Fed, FDIC, OCC and NCUA. The CFPB was represented by Victoria Pawelski, Counsel, Supervision Policy, Supervision, Enforcement and Fair Lending.

FDIC 76

FDIC Policies Lending Report 76

CFPB Monitor

OCTOBER 13, 2016

The Federal Reserve has announced that on November 9, 2016, it will host a webinar on overdraft practices. In addition to a CFPB representative, the speakers will include representatives from the Fed, FDIC, OCC and NCUA. Webinar speakers will discuss issues identified through consumer complaints, examinations, and enforcement actions.

FDIC 60

FDIC Report 60

CB Insights

MAY 27, 2020

across 404 deals, marking the worst Q1 since 2016 for fintech deals and the worst Q1 for funding since 2017. Mercury , which provides startups with FDIC-insured bank accounts. Fintech saw its worst quarter in 2 years in Q1’20, as investors pulled back from deals amid the coronavirus pandemic. REGISTER NOW: FINTECH WEBINAR.

Fintech 92

Fintech FDIC Trends Capital 92

CFPB Monitor

APRIL 15, 2016

In March 2016, the CFPB announced that it is taking complaints about marketplace lenders. In July 2015, the Treasury Department issued a request for information regarding online marketplace lending and, in February 2016, the FDIC published an article highlighting the risks for banks that partner with marketplace lenders.

Lending 60

Lending FDIC Washington Financial Technology 60

Independent Banker

JULY 31, 2022

from 2016 until its sale in 2018. The next month, Locality Bank received final approval for a state charter and FDIC-secured deposit insurance. The process is not easy, but we were able to work effectively with both the FDIC and our Florida Office of Financial Regulation to get through the process in about eight months,” he says.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

JULY 25, 2018

In May of 2017, Financial Times reported that data released by the Federal Deposit Insurance Corporation (FDIC) showed the first sequential drop in outstanding car loans at commercial banks in at least six years. The total slipped $1.6

Capital 108

Capital FDIC Resources National 108

CFPB Monitor

OCTOBER 10, 2016

On October 13, 2016, the Brookings Institute will hold an event in Washington, D.C. ” Speakers include industry representatives and an FDIC representative. titled: “ How to make fintech work for all Americans.”

Fintech 60

Fintech FDIC Policies Washington 60

PYMNTS

JUNE 19, 2020

Sam’s Club Scan & Go app debuted in 2016 and lets shoppers scan barcodes and show staffers digital receipts as they leave stores. FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic. We have deep dives on pandemic supply chain pivots, cross-border conversion and peer-to-peer (P2P) payments. The profits just hit $18.5

Payments 151

Payments United States FDIC Retail 151

William Mills

SEPTEMBER 9, 2016

William Mills Agency will be live blogging at Finovate Fall 2016. We are launching a pilot for the 2016-17 Australian grains harvest. 09:49 am Finovate Fall 2016 Day 1 Recap. This sounds like the best of both worlds – social funding for SMB’s with the backing of their FDIC-insurance bank. William Mills and K.T.

social media 40

social media ATM Mobile Customer Experience 40

Jeff For Banks

MARCH 31, 2018

FDIC insured. Mid Penn boasted about their cost of deposits and funds in their 2016 annual meeting investor presentation (pages 21-22). My colleague recently sent me a link for meetbeam.com , a soon to be released banking app that boasts a 2%-4% rate for your cash, FDIC insured (they are partnering with a bank). By default.

FDIC 60

FDIC New Jersey Pennsylvania Community Bank 60

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The build-back from the revelations of 2016 was a bit more of a lengthy process.

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

JANUARY 9, 2018

In July 2017, the Federal Deposit Insurance Corporation (FDIC) held a meeting with a group of community bankers which told officials about the competitive pressures they’re facing from FinTechs. The FDIC’s Advisory Committee on Community Banking offered a platform through which community bankers could highlight these challenges.

Community Bank 131

Community Bank Community Fintech Lending 131

Jeff For Banks

JANUARY 12, 2019

So, as was my take from September 2016, there is no discernable difference between number of board members, age, professions of board members in top performing financial institutions and bottom dwellers. Frequently asked. Seldom answered. Perhaps not. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

Jeff For Banks

JANUARY 12, 2019

So, as was my take from September 2016, there is no discernable difference between number of board members, age, professions of board members in top performing financial institutions and bottom dwellers. Frequently asked. Seldom answered. Perhaps not. Each board member is an ingredient in the effectiveness of the entire board.

Community Bank 60

Community Bank Community FDIC Dallas 60

PYMNTS

JUNE 20, 2017

The action comes a week after the FDIC announced that digital lender SoFi had applied to the state of Utah for a special banking charter known as an ILC. Should the charter be granted, SoFI would be able to take deposits and in many ways be on equal footing with the banks it currently competes with.

Utah 108

Utah Indiana America Community 108

Abrigo

SEPTEMBER 22, 2015

The new data reporting plan is available for public comment now, and if passed, would likely take affect for Q4 or first quarter 2016 call reports. By eliminating or revising some of the items that banks must include in their call reports the FFIEC hopes to streamline the reporting and decrease the amount of time spent on them.

Community Bank 150

Community Bank Community FDIC Survey 150

Celent Banking

JUNE 22, 2017

Source: FDIC, Celent analysis. FMSI, acquired by Kronos in 2016, provides cloud-based workforce management (WFM) solutions to small banks and credit unions. A historic look at the number of bank branches by asset tier makes this clear. But, the decline will not be uniformly felt across the asset tiers.

Study 125

Study Community Bank Trends Analysis 125

PYMNTS

FEBRUARY 19, 2019

The average merger review time at the Office of the Comptroller of the Currency (OCC) declined between 2016 and 2018, too, reports in The Wall Street Journal said. Earlier this month, separate reports revealed that MOXY Bank has been approved by the Federal Deposit Insurance Corporation (FDIC) to launch in Washington, D.C.,

Marketing 108

Marketing Community Community Bank Industry 108

Fintech Labs Insights

APRIL 6, 2023

Case in point: Just days after the Feds took over SVB, Mercury was in market with its Mercury Vault, offering $5 million in FDIC insurance by distributing balances across 20 insured banks. Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? 95,000 6 Meow * 11 4.3% 550 reviews) 2.

Digital Banking 15

Digital Banking Online FDIC San Francisco 15

CFPB Monitor

SEPTEMBER 2, 2016

The request was made in a letter to the CFPB, the Fed, the FDIC, the OCC, and the NCUA (Agencies). Although the DoD’s final rule took effect on October 1, 2015, it applies only to consumer credit transactions or accounts that are consummated or established after October 3, 2016 for most products, and after October 3, 2017 for credit cards.

Compliance 79

Compliance Groups Lending FDIC 79