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FDIC Fintech Risk management MORE
The state attorneys general have filed their opposition to the FDIC’s motion for summary judgment in their lawsuit to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the AGs’ reply to the FDIC’s opposition to their summary judgment motion. MORE
Compliance Daily Post 1 Exclusive Open Banking Operations & Best Practices Premium Retail Banking Banking Charter fdic OCC Robinhood Varo MoneyVaro Money has been striving to get a banking charter for three years. On Aug. 31, 2018, the digital-only challenger bank finally received conditional approval from the Office of the Comptroller of the Currency. It’s still unclear, however, if the Federal Deposit Insurance Corporation will grant the final approval. MORE
Unless Rakuten’s most recent application is granted before that date, Rakuten’s FDIC insurance application, if approved by the FDIC, would subject Rakuten to the terms of the Rule. FDIC Fintech Regulatory and Enforcement rakuten MORE
The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”. MORE
Varo applied for a banking charter from the Federal Deposit Insurance Corporation (FDIC), as well as for a charter from the Office of the Comptroller of the Currenc, in the hopes of forming “Varo Bank,” the mobile banking startup announced today. Exclusive Mobile Payments Startups fdic Financial Regulation Mobile banking OCC OCC charter PayPal SoFi Varo MoneyWant a national bank that’s mobile-only? So does Varo Money. MORE
The FDIC today released a large-scale Community Banking Study that examines community bank performance between year-end 2011 and year-end 2019. The post FDIC Publishes Wide-Ranging Community Banking Study appeared first on ABA Banking Journal. MORE
The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. In that capacity, he will advise Chairman Jelena McWilliams on consumer protection issues, including further expanding access to banking services for unbanked and underbanked consumers, strengthening consumer research functions at the FDIC, and building upon the activities of the FDIC Advisory Committee on Economic Inclusion. FDIC Federal CFS Monitor chanin MORE
The FDIC board today voted to approve an update to its policy statement on minority depository institutions. The statement of policy describes the FDIC’s actions to promote the preservation of MDIs and enhance communication between the agency and minority-owned and managed institutions. MORE
The FDIC today announced the appointment of nine new members to its Advisory Committee on Community Banking. The post FDIC Names New Advisory Committee Members appeared first on ABA Banking Journal. MORE
Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking license with the Federal Deposit Insurance Corporation (FDIC) this week. Capital & Funding Carousel Premium Product Design Retail Banking fdic OCC Temenos Varo Varo Money Visa MORE
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Banking bank charter deposits FDIC ILC industrial loans News Square Utah What's Hot MORE
The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). MORE
Digital banking FDIC Jelena McWilliams Cryptocurrencies MORE
Public’s input sought on potential modernization of advertising and signage rules to better reflect how banks operate Compliance Retail Banking Customers Performance People Compliance Management Compliance/Regulatory Consumer Compliance Feature3 Feature Financial Research Duties Financial Trends. MORE
FDIC examiners found that the underwriting criteria included the prohibited bases of age and the receipt of public assistance. FDIC examiners identified unmarried co-applicants who received less favorable pricing than similarly-situated married applicants because of the bank’s policy. MORE
Risk & Security banking innovation cybersecurity fdic Premium MORE
FDIC) is considering nixing its quarterly reports of banks in an attempt to modernize the way data is handled. To do so, the FDIC is going about a new competition among 20 data and technology firms to try and find the best way to move forward, WSJ reported. MORE
On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The FDIC indicated in its announcement that it plans to make available a listing of entities that have submitted notices. Deposit Accounts FDIC brokered deposits MORE
The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “ Madden -fix” rule. The reply responds to the AGs’ opposition to the FDIC’s summary judgment motion. MORE
FDIC Climate change OCC Biden Administration MORE
FDIC Earnings MORE
Risk Security fdicHow Chinese spies hacked into computers at the Federal Deposit Insurance Corporation from 2010 until 2013 -- and American government officials tried to cover it up. MORE
Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory. 1Compliance MORE
Federal Deposit Insurance Corporation (FDIC) is exploring how to shepherd such integrations while also assimilating changes in the agency’s internal tech stack. Starting June 14, Sultan Meghji, the FDIC’s inaugural chief innovation officer, and the supervisory body’s tech lab, […]. MORE
FDIC) to explain how the agency is preparing for a financial crisis. The lawmakers’ letter to FDIC Chairman Jelena McWilliams, dated April 13, cited an independent report about weaknesses in the Fed’s crisis readiness. Coronavirus Congress economy FDIC News What's Hot MORE
According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51. MORE
FDIC Deposits Licenses and charters Fintech regulations Regulatory reliefThe revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. MORE
FDIC Jelena McWilliams Digital currencies MORE
It plans to reapply with the FDIC, but did not reveal […]. Capital Cards Commerce Exclusive Innovations Lending Mobile Online Open Fintech Operations Payments Celtic bank fdic N26 SoFi SquarePayment processor Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application last fall. MORE
The number of Americans without bank accounts is expected to spike again in the wake of the coronavirus pandemic after hitting a low last year, according to a new report by the Federal Deposit Insurance Corp (FDIC). percent in 2019, the lowest since the FDIC began tracking this stat in 2009. MORE
In this episode, editors discuss the following news developments: The implications of banking startup Varo’s FDIC approval; How U.K. Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb. 14, 2020. MORE
Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through. MORE
FDIC City of Houston, TX Unbanked City of Atlanta, GA Financial inclusion MORE
percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). . bank profits fell 36.5 MORE
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). B2B Payments B2B Brex business banking FDIC News UMB Financial Corp. MORE
FDIC Related Topics PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Banking bank charter deposits FDIC ILC industrial loans News Square Utah What's Hot
PYMNTS
JUNE 28, 2020
FDIC) is considering nixing its quarterly reports of banks in an attempt to modernize the way data is handled. To do so, the FDIC is going about a new competition among 20 data and technology firms to try and find the best way to move forward, WSJ reported.
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PYMNTS
OCTOBER 19, 2020
The number of Americans without bank accounts is expected to spike again in the wake of the coronavirus pandemic after hitting a low last year, according to a new report by the Federal Deposit Insurance Corp (FDIC). percent in 2019, the lowest since the FDIC began tracking this stat in 2009.
American Banker
MAY 18, 2021
FDIC Climate change OCC Biden Administration
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American Banker
APRIL 14, 2021
FDIC Fintech Risk management
BankInovation
JULY 30, 2021
Risk & Security banking innovation cybersecurity fdic Premium
PYMNTS
APRIL 14, 2020
FDIC) to explain how the agency is preparing for a financial crisis. The lawmakers’ letter to FDIC Chairman Jelena McWilliams, dated April 13, cited an independent report about weaknesses in the Fed’s crisis readiness. Coronavirus Congress economy FDIC News What's Hot
American Banker
MAY 11, 2021
FDIC Jelena McWilliams Digital currencies
Bank Innovation
JUNE 3, 2019
Compliance Daily Post 1 Exclusive Open Banking Operations & Best Practices Premium Retail Banking Banking Charter fdic OCC Robinhood Varo MoneyVaro Money has been striving to get a banking charter for three years. On Aug. 31, 2018, the digital-only challenger bank finally received conditional approval from the Office of the Comptroller of the Currency. It’s still unclear, however, if the Federal Deposit Insurance Corporation will grant the final approval.
American Banker
APRIL 11, 2021
FDIC City of Houston, TX Unbanked City of Atlanta, GA Financial inclusion
Bank Innovation
JULY 17, 2019
Varo Money, the 4-year-old digital banking startup with 750,000 users and $600 million in deposits, has applied for a banking license with the Federal Deposit Insurance Corporation (FDIC) this week. Capital & Funding Carousel Premium Product Design Retail Banking fdic OCC Temenos Varo Varo Money Visa
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CFPB Monitor
MAY 19, 2021
The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”.
PYMNTS
FEBRUARY 23, 2021
percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). . bank profits fell 36.5
American Banker
MAY 17, 2021
Digital banking FDIC Jelena McWilliams Cryptocurrencies
PYMNTS
JUNE 17, 2020
According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51.
PYMNTS
JULY 22, 2020
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). B2B Payments B2B Brex business banking FDIC News UMB Financial Corp.
Bank Innovation
JULY 25, 2017
Varo applied for a banking charter from the Federal Deposit Insurance Corporation (FDIC), as well as for a charter from the Office of the Comptroller of the Currenc, in the hopes of forming “Varo Bank,” the mobile banking startup announced today. Exclusive Mobile Payments Startups fdic Financial Regulation Mobile banking OCC OCC charter PayPal SoFi Varo MoneyWant a national bank that’s mobile-only? So does Varo Money.
CFPB Monitor
MARCH 27, 2019
The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. In that capacity, he will advise Chairman Jelena McWilliams on consumer protection issues, including further expanding access to banking services for unbanked and underbanked consumers, strengthening consumer research functions at the FDIC, and building upon the activities of the FDIC Advisory Committee on Economic Inclusion. FDIC Federal CFS Monitor chanin
BankInovation
JUNE 3, 2021
Federal Deposit Insurance Corporation (FDIC) is exploring how to shepherd such integrations while also assimilating changes in the agency’s internal tech stack. Starting June 14, Sultan Meghji, the FDIC’s inaugural chief innovation officer, and the supervisory body’s tech lab, […].
ABA Community Banking
JUNE 15, 2021
The FDIC board today voted to approve an update to its policy statement on minority depository institutions. The statement of policy describes the FDIC’s actions to promote the preservation of MDIs and enhance communication between the agency and minority-owned and managed institutions.
PYMNTS
MARCH 15, 2020
Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through.
CFPB Monitor
JANUARY 25, 2021
Unless Rakuten’s most recent application is granted before that date, Rakuten’s FDIC insurance application, if approved by the FDIC, would subject Rakuten to the terms of the Rule. FDIC Fintech Regulatory and Enforcement rakuten
CFPB Monitor
APRIL 6, 2021
FDIC examiners found that the underwriting criteria included the prohibited bases of age and the receipt of public assistance. FDIC examiners identified unmarried co-applicants who received less favorable pricing than similarly-situated married applicants because of the bank’s policy.
ABA Community Banking
APRIL 6, 2021
The FDIC today announced the appointment of nine new members to its Advisory Committee on Community Banking. The post FDIC Names New Advisory Committee Members appeared first on ABA Banking Journal.
Bank Innovation
JULY 14, 2016
Risk Security fdicHow Chinese spies hacked into computers at the Federal Deposit Insurance Corporation from 2010 until 2013 -- and American government officials tried to cover it up.
American Banker
DECEMBER 15, 2020
FDIC Deposits Licenses and charters Fintech regulations Regulatory reliefThe revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated.
Bank Innovation
FEBRUARY 14, 2020
In this episode, editors discuss the following news developments: The implications of banking startup Varo’s FDIC approval; How U.K. Welcome to the latest episode of our Weekly Wrap series, for the week ending Friday, Feb. 14, 2020.
CFPB Monitor
JUNE 23, 2021
The state attorneys general have filed their opposition to the FDIC’s motion for summary judgment in their lawsuit to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the AGs’ reply to the FDIC’s opposition to their summary judgment motion.
ABA Community Banking
DECEMBER 16, 2020
The FDIC today released a large-scale Community Banking Study that examines community bank performance between year-end 2011 and year-end 2019. The post FDIC Publishes Wide-Ranging Community Banking Study appeared first on ABA Banking Journal.
Bank Innovation
JULY 9, 2018
It plans to reapply with the FDIC, but did not reveal […]. Capital Cards Commerce Exclusive Innovations Lending Mobile Online Open Fintech Operations Payments Celtic bank fdic N26 SoFi SquarePayment processor Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application last fall.
CFPB Monitor
APRIL 8, 2021
On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective. The FDIC indicated in its announcement that it plans to make available a listing of entities that have submitted notices. Deposit Accounts FDIC brokered deposits
Banking Exchange
APRIL 14, 2021
Public’s input sought on potential modernization of advertising and signage rules to better reflect how banks operate Compliance Retail Banking Customers Performance People Compliance Management Compliance/Regulatory Consumer Compliance Feature3 Feature Financial Research Duties Financial Trends.
CFPB Monitor
JULY 23, 2021
The FDIC has filed its reply in support of its motion for summary judgment in the lawsuit filed by a group of state attorneys general to set aside the FDIC’s “ Madden -fix” rule. The reply responds to the AGs’ opposition to the FDIC’s summary judgment motion.
Banking Exchange
MAY 19, 2021
Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory. 1Compliance
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