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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

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FDIC issues final rule on brokered deposits and interest rate limits applicable to less than well capitalized institutions

CFPB Monitor

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).

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine. Perhaps “overly optimistic” might be the mindset that marks private markets. Regional players like BankUnited have even smaller market caps (at about $2 billion).

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Chime, Challenger Banks And The Challenges Of (Lofty) Valuations

PYMNTS

On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine. Perhaps “overly optimistic” might be the mindset that marks private markets. Regional players like BankUnited have even smaller market caps (at about $2 billion).

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S. or largely focused on the domestic banking market. If you have an interesting podcast to share, please send it to marketing@abrigo.com. Check them all out in our Knowledge Center.

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Squared Away- How It Happened

Jeff For Banks

Others surprised me, such as the amount of views expended on board composition, or on deploying bank capital. While seventy-five percent done with writing, I read Conscious Capitalism by John Mackey of Whole Foods Market and Raj Sisodia. Marketing I'm now in the book marketing business. Some made sense to me.

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LendingClub Settles With SEC, DOJ

PYMNTS

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 DOJ Finding. Attorney Alex Tse. “We The Response. lending marketplace.

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