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Should Congress Increase FDIC Insurance Limits?

South State Correspondent

In the wake of regional bank failures, one potential answer to equity shorting and bank runs is having the FDIC increase deposit insurance. We believe any change to the FDIC insurance coverage should aim to maintain and advance our credit markets. There is no escaping this conclusion: FDIC insurance promotes risk-taking by managers.

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FDIC Approves Square For Banking License

PYMNTS

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). FDIC staff found that Square satisfied each of the statutory factors required for approval, subject to certain conditions.

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CFPB Director Rohit Chopra Addresses FDIC Deposit Insurance and the Banking Industry

CFPB Monitor

Director Chopra, who is also a board member of the Federal Deposit Insurance Corporation, focused his messaging on the need to better educate consumers regarding when their deposits are and are not insured by the FDIC. Continue Reading

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FDIC Looks To Modernize Bank Reporting

PYMNTS

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. Recently, the FDIC also eased up the Volcker Rule.

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7 Highlights from the Latest FDIC Quarterly Banking Profile

Abrigo

Banking Trends from the FDIC's 2Q Report Net interest margin reached a new record low, but positive signs emerged in lending. Summary of the Latest FDIC Quarterly Profile. FDIC) released the latest Quarterly Banking Profile recently, and it has some helpful information on industry trends. Banking Data. Interestingly, 64.1%

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OCC and FDIC address overdraft and NSF fee practices

CFPB Monitor

The OCC has issued a new bulletin and the FDIC has issued new supervisory guidance directed to their supervised institutions to address “authorize positive, settle negative” (APSN) overdraft fee practices. The OCC bulletin also addresses non-sufficient funds (NSF) fee practices.

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FDIC: US Bankless Rate Set To Rise

PYMNTS

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. The unbanked rate jumped to 8.6

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