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

American Banker

JUNE 12, 2023

Bank of America had been considering a bid for First Republic after it was seized by regulators, but ultimately dropped out of the process.

America 36

America FDIC Regulation Industry 36

American Banker

JANUARY 12, 2024

billion FDIC assessment and a $1.6 The decline in profit came mainly from a $2.1 billion charge tied to the shift away from LIBOR.

America 28

America FDIC Maine 28

CFPB Monitor

AUGUST 3, 2023

The court issued an order that preliminarily enjoins the CFPB from implementing and enforcing the Rule “pending the Supreme Court’s reversal of [ Community Financial Services Association of America Ltd. Continue Reading

Texas 78

Texas Lending FDIC Compliance 78

Bank Innovation

DECEMBER 10, 2016

Bank depositors get tax-payer funded insurance in many jurisdictions (such as FDIC in America) in case a bank goes bankrupt. Your Bitcoin in Mt.Gox or BitFinex….buyer buyer beware. People paying by Credit Card can fight back against a fraudulent charge. Once you send those Bitcoin it is like handing over cash…buyer Read More.

Bitcoin 150

Bitcoin FDIC Taxes America 150

The Financial Brand

NOVEMBER 9, 2020

A new analysis of FDIC numbers will surprise you. The post Is Small-Town America Being Unbanked? How much of what you know about branch trends is on target and what's completely wrong? and More Hidden ‘Trends’) appeared first on The Financial Brand.

America 36

America Trends FDIC Analysis 36

PYMNTS

OCTOBER 8, 2020

Bank of America (BoA) is muscling into the payday loan business, minus the sky-high fees, as the pandemic continues to upend the financial landscape, according to a post on the company website. Steve Boland, president of Retail at Bank of America, said in the post. BoA on Thursday (Oct.

Charlotte 131

Charlotte America FDIC Guidelines 131

American Banker

SEPTEMBER 11, 2020

The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.

FDIC 62

FDIC America Community Industry 62

PYMNTS

OCTOBER 11, 2017

The Independent Community Bankers of America (ICBA), the trade group for community banks, is calling on the Federal Deposit Insurance Corporation (FDIC) to deny a federal deposit insurance application by payment terminal company Square.

Groups 102

Groups FDIC Community Bank Community 102

American Banker

JUNE 23, 2020

Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns.

FDIC 57

FDIC Industry America 57

PYMNTS

DECEMBER 16, 2020

resident and non-resident international clients of Aeldra can open an FDIC-insured U.S. The global capabilities of i2c throughout North America, Asia and Europe will let Aeldra grow at a fast clip to provide banking offerings in the United Kingdom, Canada and in other places, according to the announcement.

United States 168

United States FDIC California Mobile 168

PYMNTS

FEBRUARY 19, 2020

The research filtered data from the Federal Deposit Insurance Corporation (FDIC). Bank of America planned to shutter 129 branches. There was a 2.2 percent drop during the same time period a year earlier, the research showed. The industry was the biggest loser out of all the major U.S. markets in the study. percent, reaching $12.8

New York 167

New York North Carolina US New York City 167

PYMNTS

MARCH 7, 2017

The Accion Frontier Inclusion Fund is setting its sights on emerging markets in Sub-Saharan Africa, Latin America and Asia that have shown the most potential for inclusive FinTech. FDIC), U.S. The FDIC also said that the percentage of U.S. While the unbanked are numerous in Africa and elsewhere in the U.S.,

FDIC 100

FDIC Capital Fintech Analytics 100

Abrigo

MARCH 25, 2020

However, the guidance will make it more palatable for financial institutions seeking to help borrowers during the coronavirus crisis, and it was sought by bankers, including the Independent Community Bankers of America (ICBA). Modifications not automatically TDRs.

FDIC 150

FDIC Regulation Exercises Community 150

MyBankTracker

AUGUST 6, 2020

The average monthly maintenance fees for checking accounts are based on the most basic offerings from Bank of America, Chase, Wells Fargo, Citibank, and U.S. Sources: FDIC. 2017 FDIC National Survey of Unbanked and Underbanked Households. Bank (configured with the option to receive paper statements). 2020, March). 2019, June).

Survey 52

Survey FDIC United States Study 52

PYMNTS

SEPTEMBER 30, 2020

Co-signed by the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America and The Clearing House, the letter argues that banks and non-bank technology firms are both already embracing innovation in customer service offerings. FDIC), the states and the courts.

Regulation 349

Regulation National System Industry 349

PYMNTS

NOVEMBER 12, 2020

FDIC) study found that the number of unbanked U.S. Making mobile and digital payments accessible and seamless will go a long way toward financial inclusion in America, while meeting the urgent need for funds during a time of economic difficulty. A recent Federal Deposit Insurance Corp.

Mobile 202

Mobile Study Tools FDIC 202

CFPB Monitor

AUGUST 20, 2020

FFIEC : On June 5, 2020, the members of the FFIEC (FDIC, OCC, Federal Reserve Board (“FRB”), CFPB, NCUA and the State Liaison Committee) issued an unprecedented statement on the importance of financial inclusion. On July 23, 2020, the FDIC released a podcast entitled “The Role of Minority Banks.” banking system. banking system.

Regulation 78

Regulation FDIC Community Lending 78

PYMNTS

JANUARY 30, 2018

When Bank of America announced last week that it was terminating its free checking option for low-balance customers, a literal Tweet storm broke out. Three years later, in 2013, Bank of America stopped enrolling new customers in the program. As of today, over 25K customers have made [the] switch from Bank of America to Aspiration.”.

America 109

America Maryland FDIC Millennials 109

PYMNTS

NOVEMBER 7, 2017

The company has 10,900 stores in North America. As cited by TechCrunch, the FDIC has estimated that cash-wielding consumers comprise about 27 percent of shoppers, and are likely to want to buy in-store, given their use of credit or debit cards at the register or checkout locales. TechCrunch reported the news on Monday (Nov.

United States 101

United States FDIC America Retail 101

PYMNTS

MARCH 18, 2019

According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. Bank of America had a free checking account that was popular among low-balance customers, but last year discontinued the program. In 2017, 6.5 percent of 129.3 million U.S.

America 175

America Survey FDIC System 175

PYMNTS

JUNE 20, 2017

The Independent Community Bankers of America, a trade group representing about 6,000 small banks holding almost $5T in assets, is lining up against SoFi, urging the Federal Deposit Insurance Corporation to reject its application to launch a banking unit.

Utah 108

Utah Indiana America Community 108

PYMNTS

AUGUST 3, 2017

Chase in comparison has 5,567 branches as of July 18, according to FDIC figures. The credit union network added more than 400 branches during the last two years, when CO-OP Shared Branch surpassed Bank of America. In a press release the credit union said the CO-OP Shared Branch now totals 5,671 physical locations.

ATM 103

ATM FDIC Comparison America 103

PYMNTS

MARCH 26, 2020

In an interview with Karen Webster, Kathryn Cleary, Mastercard’s senior vice president of business development for North America, pointed out that push payments offer a cleaner authentication path and requires less sensitive user data — where the 16-digit card account number acts as the authenticator. FDIC) has estimated that 8.4

Cards 252

Cards Course FDIC Payments 252

Abrigo

APRIL 23, 2015

While both bills would be seen as an improvement, they fall short of the recommendation from the Independent Community Bankers Association of America (ICBA). Scott Tipton, R-Colo., in the House of Representatives in March. The ICBA’s Plan for Prosperity calls for a two-year exam cycle for well-rated community banks under $2 billion in assets.

Community Bank 150

Community Bank Community Survey FDIC 150

PYMNTS

OCTOBER 8, 2019

come from all over the world, though Latin America and Asia are the leading contributing portals, and they work in every vertical – though migrant workers more often work in service sector jobs than management positions. According to the Bureau of Labor statistics , as of 2018 (the last full year for which data is available), there were 28.2

Community 126

Community United States Meeting Houston 126

PYMNTS

OCTOBER 8, 2019

come from all over the world, though Latin America and Asia are the leading contributing portals, and they work in every vertical – though migrant workers more often work in service sector jobs than management positions. According to the Bureau of Labor statistics , as of 2018 (the last full year for which data is available), there were 28.2

Community 116

Community United States Meeting Houston 116

PYMNTS

OCTOBER 17, 2017

An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. ILCs are used to form industrial loan companies, better known as industrial banks. And those can take a while.

Industry 108

Industry Fintech FDIC Community Bank 108

Gonzobanker

MARCH 22, 2023

Irvine Sprague, Former FDIC Director So Gonzo Bankers … how many of us have been hesitant lately to check our iPhone each morning to see what trouble may have hit the fan in the financial world during a few restless hours of slumber? “Bank confidence is a fragile reed, and a troubled bank is damaged by any rumors, true or not.”

social media 78

social media Capital Risk Management Strategy 78

Abrigo

APRIL 21, 2020

Steve Domine, President of Minnesota Community Banking and Senior Vice President of Lending at Stearns Bank, explained during a recent Independent Community Bankers of America (ICBA) webinar that his bank sought both inside and outside counsel to understand the SBA rulings.

Lending 195

Lending Capital Minnesota FDIC 195

PYMNTS

JULY 25, 2019

In an interview with PYMNTS, Deirdre Ives, CEO and managing director at Wirecard North America, noted that when it comes to innovation, issuers face challenges in meeting the needs and expectations of a diverse populace of users spanning borders and cultures. FDIC) estimated that 6.5 Another 18.7

Payments 189

Payments Innovation Examples FDIC 189

PYMNTS

OCTOBER 30, 2019

The investment also signals the spread of the open banking business model beyond markets in which it is a regulatory requirement, with Galileo planning to use the funds to expand across Latin America as well as Europe and the U.K. Banks, FinTechs Team Up.

Lending 102

Lending Fintech America Data 102

American Banker

OCTOBER 23, 2020

The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America.

Community 74

Community Community Bank America Fintech 74

PYMNTS

NOVEMBER 1, 2018

Citi, Standard Chartered, Bank of America, HSBC and Credit Suisse, for example, all reported third-quarter profit increases from the same period last year. And that is a bank – one with FDIC insurance and safeguards that keep their money safe. Deutsche Bank ‘s earnings, however, slumped.”. Not So Black-and-White.

Fintech 191

Fintech UX Mobile FDIC 191

PYMNTS

JULY 15, 2016

But when it comes to a tactic that plays rope-a-dope with the facts about something, say as serious as whether or not China hacked into the FDIC, then it is not at all cool. Top as in the very top: the FDIC chairman, his chief of staff, and the General Counsel. Maybe not even from a PR perspective either. Lending Club Algorithms .

Retail 100

Retail FDIC Bitcoin Lending 100

CFPB Monitor

JULY 7, 2022

The four groups are the American Bankers Association, the Consumer Bankers, the Independent Community Bankers of America, and the U.S. Chamber of Commerce.

Groups 145

Groups West Virginia Policies Virginia 145

American Banker

JULY 11, 2016

While diversity at the federal agencies overall is roughly consistent with the rest of the country, diversity declines sharply among those in senior leadership roles.

America 28

America Regulation Leadership FDIC 28