ABA Community Banking

SEPTEMBER 8, 2021

Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank recently became the first nationally chartered, FDIC-insured bank to offer crypto banking.

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Community Bank Community Retail FDIC 64

BankInovation

OCTOBER 1, 2020

The Federal Deposit Insurance Corporation (FDIC) has taken steps to promote fintech partnerships and diversity and inclusion within the financial services industry, both internally at the FDIC and among the institutions it regulates, FDIC Chairwoman Jelena McWilliams said during the LendIt Fintech USA 2020 conference Wednesday.

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FDIC Fintech Innovation Conference 52

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” account opening) and the bank continues to interact directly with its customers.

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Fintech Community Bank Community FDIC 78

American Banker

JULY 20, 2020

The agency's request for information seeks comment on the idea of the FDIC partnering with a standards-setting organization to develop best practices for technology firms, among other things.

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FDIC Fintech Technology Community Bank 90

Jeff For Banks

MAY 7, 2016

Recent news of Prosper scaling back and OnDeck Capital's ongoing losses has taken a little shine off of the FinTech apple. Recently a former bank director and active bank stock investor asked me about the rise of FinTechs and how it impacts community banks. But the death of the community bank is exaggerated.

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Community Bank Community Fintech FDIC 60

CFPB Monitor

AUGUST 13, 2018

McWilliams stated that the FDIC’s top priorities included: (1) reducing regulatory burden on community banks; (2) increasing the speed with which the FDIC reviews charter and deposit insurance applications; and (3) assisting banks to introduce new financial products that serve underserved communities.

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FDIC Community Lending Guidelines 68

Gonzobanker

MAY 4, 2020

All the capital flowing into the digital fintech space is helping to solve banking industry challenges. As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. SoFi/Galileo: This $1.2 customer impact.

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Fintech FDIC Capital Community Bank 109

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. This isn’t the first time the group has opposed a deposit insurance application.

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Groups FDIC Community Bank Community 102

PYMNTS

MAY 27, 2020

And according to five observers across the spectrum of traditional financial institutions (FIs), payment networks and digital-only banks, opportunities are there for digital-first and hybrid models alike to succeed — so long as they harbor a relentless focus on identifying and solving customer problems.

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Fintech Innovation Digital Banking FDIC 236

PYMNTS

OCTOBER 17, 2017

ILCs are used to form industrial loan companies, better known as industrial banks. 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.

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Industry Fintech FDIC Community Bank 108

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.

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Community Community Bank America Fintech 74

PYMNTS

AUGUST 3, 2020

banks and credit unions (CUs) have signed on to offer checking and savings accounts through Google Pay. BankMobile, BBVA USA, BMO Harris, The Coastal Community Bank, First Independence Bank (a federally designated minority depository institution) and SEFCU will join Citi and Stanford Federal Credit Union in the offering beginning next year.

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Google Digital Banking Pennsylvania FDIC 239

American Banker

APRIL 28, 2024

is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. The Federal Deposit Insurance Corp. Three industry groups are suing the state in an effort to stop its attempted crackdown.

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Colorado FDIC Groups Industry 36

Bank Innovation

DECEMBER 27, 2018

Bank Innovation's list of people to watch in 2019 include the head of a large bank, the head of a community bank, a regulator, an investor with money to burn and the head of one of the biggest fintechs in the industry. The people on the list were chosen by BI's editors and are listed in […].

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Community Bank Community Regulation Innovation 170

NCR

NOVEMBER 15, 2016

Aware of the disruptive changes in how banking products and services are delivered, community banks continue adopting new technologies to keep up with competition and customers’ demand. Will a mobile banking app really help to solve community banks’ challenges or is it just a waste of money?

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Community Bank Community Mobile Rhode Island 40

Payments Source

APRIL 8, 2019

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

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Fintech Community Bank Community Regulation 67

Independent Banker

APRIL 30, 2022

Independent Banker’s annual listing top-performing community banks of 2021 alongside interviews with some of the winners. In true community bank fashion, each has its own story to tell and its own path to success. In true community bank fashion, each has its own story to tell and its own path to success.

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Community Bank Community Montana Taxes 172

PYMNTS

APRIL 24, 2019

In addition, Wealthfront works with FDIC-insured partner banks — including East West Bank , New York Community Bank and others — to hold customers’ deposits. Since the firm partners with multiple banks, the deposits are insured up to $1 million. Consumers are fed up.”.

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FDIC New York Community Bank Course 108

Abrigo

MAY 5, 2022

Ahead of the Curve: A Banker’s Podcast Ahead of the Curve: A Banker’s Podcast has insights from banking leaders and advisors across the banking industry. Breaking Banks Breaking Banks , billed as the #1 global fintech podcast and radio show, began in 2013 and is hosted by media firm Provoke.fm.

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Community Lending Maine Resources 195

American Banker

AUGUST 25, 2023

The small community bank was bought up by crypto-focused investors and quickly repositioned to cater to tech innovators. Is this problematic or perfectly legitimate?

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Community Bank Community Innovation FDIC 68

PYMNTS

FEBRUARY 19, 2019

He pointed to the Community Reinvestment Act, which encourages banks to loan to small businesses. Reports said Powell noted that looser community bank regulations may help keep branches open. Bank mergers aren’t the only factor behind closing bank branches, however.

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Marketing Community Community Bank Industry 108

Abrigo

FEBRUARY 12, 2020

CRE loan growth at community banks has been outpacing noncommunity banks, both in the quarter and over the last year, according to the FDIC’s latest Quarterly Banking Profile. . Return on Tech Investment – Measuring and Achieving Value from Fintech. Watching for CRE red flags. Learn More. Learn More.

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Lending Trends FDIC Survey 195

Payments Source

MARCH 17, 2020

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

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FDIC Industry Company Community Bank 82

American Banker

JULY 1, 2020

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.

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FDIC Report Innovation Community Bank 76

Independent Banker

NOVEMBER 25, 2015

A mix of players, FinTech firms pose threats and opportunities. Call them disruptors, upstarts or the voguish FinTech companies. Regardless of the name, nonbank technology firms are wedging themselves between community banks and their customers by offering a slew of traditional and nontraditional banking products.

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Community Bank Community Analytics Lending 70

PYMNTS

JANUARY 31, 2019

is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. With clearance to move forward with its plans, the community banking landscape will see its first new industry player in years.

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Community Bank Community FDIC Marketing 122

ABA Community Banking

JANUARY 31, 2022

The outgoing FDIC chairman discusses bank innovation, FDITech, post-COVID exams and the agency's COVID response in part one of this interview. The post Podcast: Exit Interview with Jelena McWilliams, Part 1 appeared first on ABA Banking Journal.

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FDIC Innovation Taxes Community Bank 52

Independent Banker

FEBRUARY 24, 2016

Competing and beating FinTech’s digital-platform lenders. Community banks cannot afford to ignore the staggering pace of lending adoption by both individuals and businesses using digital-only platforms from various nonbank technology-based specialty lending firms. FDIC-insured deposits largely solve this problem for banks.

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Community Bank Community Lending FDIC 70

American Banker

JULY 6, 2020

Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.

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FDIC Lending Industry Company 60

American Banker

FEBRUARY 10, 2020

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

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FDIC Community Bank Community Regulation 57

Long Lasting Ideas

AUGUST 15, 2018

A couple of years back in this blog, we noted with more than a dash of skepticism that the FDIC was trying to make it easier for new banks to test the financial waters.

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FDIC Marketing Strategies Strategy Marketing 51

American Banker

MARCH 17, 2020

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

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FDIC Industry Company Community Bank 46

American Banker

NOVEMBER 13, 2020

The forthcoming measure could override staff opinions that helped certain deposit-gathering companies partner with banks.

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FDIC Company Community Bank Community 32

ABA Community Banking

NOVEMBER 20, 2019

Regulators need to understand the pressures that banks face to innovate and support those efforts, FDIC Chairman Jelena McWilliams said today. The post McWilliams: Regulators Need to Support Bank Innovation Efforts appeared first on ABA Banking Journal.

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Regulation Innovation FDIC Community Bank 45

ABA Community Banking

OCTOBER 1, 2019

Highlighting consumer demand for seamless digital delivery of financial services, FDIC Chairman Jelena McWilliams today emphasized the role of core banking technology companies in facilitating digital transformation. The post McWilliams: Core Processors ‘Must Evolve’ appeared first on ABA Banking Journal.

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FDIC Technology Company Big Data 45

Jeff For Banks

MARCH 3, 2018

That's what I thought about while reading a recent Financial Brand post about Innovation in Banking: Killer Ideas? More talk about fintech, dinosaur bankers, and flavors of the month. Six years ago I asked in a blog post Will Plain Vanilla Kill Community Banking ? or Idea Killers? But their animation caught my attention.

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Apple Millennials Massachusetts FDIC 67

Abrigo

NOVEMBER 29, 2021

Takeaway 3 Community banks have seen less volatility in noninterest income, and many are still eyeing growth across the category. Community banks target growth. Community banks have seen less volatility in noninterest income over time. Types of Noninterest Income. An important source of revenue.

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Community Bank Community FDIC Trends 195