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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. MORE
FDIC Capital Florida De novo institutions Community banksOrganizers of Coastal Community Bank must raise $19.5 million before opening. MORE
FDIC Consulting Compliance Community banking Regulatory actions and programsWilliam Isaac and Howard Milstein plan to provide advice to U.S. and foreign banks of all sizes. 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. Want a national bank that’s mobile-only? 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
FDIC Digital banking Deposit insurance ATMs Policymaking Branch bankingThe agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships. 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. 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
FDIC ILCs Varo Money Licenses and charters Fintech regulations Nonbank De novo institutions Community banksThe agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures. MORE
The FDIC released a manual on Formal and Informal Enforcement Actions. The FDIC released its manual on Formal and Informal Enforcement Actions. For the first time, the FDIC released its manual on Formal and Informal Enforcement Actions to provide greater transparency to those processes. MORE
Amid rising revenues and decreased taxes, the Federal Deposit Insurance Corporation (FDIC) announced on Thursday (Feb. In an announcement , FDIC Chairman Jelena McWilliams said, “Loan balances expanded, net interest margins improved and the number of ‘problem banks’ continued to decline.”. 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
The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8 MORE
Digital banking Consumer banking Mobile banking Mobile technology Fintech National banks Colin Walsh Varo Money FDICIt was Varo's second try with the Federal Deposit Insurance Corp., MORE
Compliance Law and regulation Jelena McWilliams FDIC OIGThe agency agreed to most recommendations made by its inspector general but pushed back on some conclusions. MORE
FDIC Capital Community banking Ohio De novo institutionsOrganizers of Riverside Bank of Dublin will need to raise $18 million before opening. MORE
Cybersecurity Law and regulation Risk management OCC FDICThe two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran. MORE
Risk management Policymaking Ag lending Agriculture industry Farm and rural mortgages FDICTo guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers. 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
Community banking De novo institutions Capital FDIC UtahOrganizers of Bank of St. George still need to raise $18 million before opening. MORE
FDIC ILCs Fintech Square Licenses and charters Walmart Community bankingOn 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. MORE
Financial regulations FDIC Workforce managementThe inspector general also said high turnover at the chief information officer position has limited the agency's ability to modernize its technology. MORE
The FDIC has released a proposal to indemnify the banks with assets less than $10 billion from the costs of raising the Deposit Insurance Fund reserve ratio from 1.15 The FDIC could vote on the proposal as early as next month. MORE
Regulatory reform Regulatory guidance Financial regulations Capital Liquidity Federal Reserve FDICThe two agencies have delayed the deadline for the public to respond to a request for information on the rating system used to score banks' overall health. MORE
FDIC Jelena McWilliams Workforce management Regulatory actions and programs Succession planning Retirement planningThe agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age. 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
FDIC Equifax Fintech Hacking Blockchain Deutsche Bank Deposit insurance M&AFour Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter. 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
Deposits Deposit insurance Regulatory relief Regulatory reform Jelena McWilliams FDICThe proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds. MORE
The FDIC today issued two sets of frequently asked questions addressing banker and consumer concerns related to the coronavirus pandemic. The post FDIC Issues Coronavirus-Related FAQs for Banks, Consumers appeared first on ABA Banking Journal. MORE
The FDIC this week announced the appointment of four new members to its Advisory Committee on Community Banking. The post FDIC Names New Advisory Committee Members appeared first on ABA Banking Journal. MORE
The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period. Leveraged loans CRE Compliance Risk tolerance FDIC MORE
FDIC ILCs Square Licenses and charters WalmartA decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system. MORE
While banks continued to see deposit growth over the past year, it lagged the five-year average for annual growth, according to the latest issue of the FDIC Quarterly. The post FDIC: Deposit Growth Picks Up Slightly in 2019 appeared first on ABA Banking Journal. MORE
Since 2007, banks have more than doubled the balance of the FDIC insurance fund that protects deposits to a record $110.3 The post ABA Data Bank: FDIC Insurance Fund at Record-High Balance appeared first on ABA Banking Journal. 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
MARCH 18, 2020
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).
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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.
American Banker
MARCH 19, 2020
The voluntary agreements were meant to help the FDIC make staffing changes ahead of a wave of retirements. FDIC Jelena McWilliams Failures Coronavirus Succession planning RecruitingBut concerns about the coronavirus means those plans will be put on hold.
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American Banker
FEBRUARY 20, 2020
FDIC Digital banking Deposit insurance ATMs Policymaking Branch bankingThe agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships.
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.
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American Banker
MARCH 12, 2020
FDIC Consulting Compliance Community banking Regulatory actions and programsWilliam Isaac and Howard Milstein plan to provide advice to U.S. and foreign banks of all sizes.
PYMNTS
FEBRUARY 22, 2019
Amid rising revenues and decreased taxes, the Federal Deposit Insurance Corporation (FDIC) announced on Thursday (Feb. In an announcement , FDIC Chairman Jelena McWilliams said, “Loan balances expanded, net interest margins improved and the number of ‘problem banks’ continued to decline.”.
American Banker
MARCH 11, 2020
FDIC ILCs Square Licenses and charters WalmartA decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system.
American Banker
MARCH 20, 2020
FDIC Capital Florida De novo institutions Community banksOrganizers of Coastal Community Bank must raise $19.5 million before opening.
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. Want a national bank that’s mobile-only?
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ABA Community Banking
MARCH 27, 2020
Since 2007, banks have more than doubled the balance of the FDIC insurance fund that protects deposits to a record $110.3 The post ABA Data Bank: FDIC Insurance Fund at Record-High Balance appeared first on ABA Banking Journal.
American Banker
JANUARY 16, 2020
Cybersecurity Law and regulation Risk management OCC FDICThe two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran.
American Banker
FEBRUARY 10, 2020
FDIC ILCs Varo Money Licenses and charters Fintech regulations Nonbank De novo institutions Community banksThe agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.
American Banker
FEBRUARY 5, 2020
Compliance Law and regulation Jelena McWilliams FDIC OIGThe agency agreed to most recommendations made by its inspector general but pushed back on some conclusions.
American Banker
FEBRUARY 10, 2020
Digital banking Consumer banking Mobile banking Mobile technology Fintech National banks Colin Walsh Varo Money FDICIt was Varo's second try with the Federal Deposit Insurance Corp.,
Abrigo
DECEMBER 13, 2019
The FDIC released a manual on Formal and Informal Enforcement Actions. The FDIC released its manual on Formal and Informal Enforcement Actions. For the first time, the FDIC released its manual on Formal and Informal Enforcement Actions to provide greater transparency to those processes.
American Banker
MARCH 13, 2020
FDIC Capital Community banking Ohio De novo institutionsOrganizers of Riverside Bank of Dublin will need to raise $18 million before opening.
ABA Community Banking
MARCH 19, 2020
The FDIC today issued two sets of frequently asked questions addressing banker and consumer concerns related to the coronavirus pandemic. The post FDIC Issues Coronavirus-Related FAQs for Banks, Consumers appeared first on ABA Banking Journal.
American Banker
DECEMBER 23, 2019
The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period. Leveraged loans CRE Compliance Risk tolerance FDIC
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.
ABA Community Banking
OCTOBER 9, 2019
The FDIC this week announced the appointment of four new members to its Advisory Committee on Community Banking. The post FDIC Names New Advisory Committee Members appeared first on ABA Banking Journal.
American Banker
JANUARY 28, 2020
Risk management Policymaking Ag lending Agriculture industry Farm and rural mortgages FDICTo guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.
ABA Community Banking
MARCH 11, 2020
While banks continued to see deposit growth over the past year, it lagged the five-year average for annual growth, according to the latest issue of the FDIC Quarterly. The post FDIC: Deposit Growth Picks Up Slightly in 2019 appeared first on ABA Banking Journal.
American Banker
MARCH 5, 2020
FDIC Jelena McWilliams Workforce management Regulatory actions and programs Succession planning Retirement planningThe agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age.
American Banker
DECEMBER 30, 2019
Community banking De novo institutions Capital FDIC UtahOrganizers of Bank of St. George still need to raise $18 million before opening.
American Banker
MARCH 17, 2020
FDIC ILCs Fintech Square Licenses and charters Walmart Community bankingOn 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.
PYMNTS
NOVEMBER 14, 2018
The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8
American Banker
FEBRUARY 14, 2020
Financial regulations FDIC Workforce managementThe inspector general also said high turnover at the chief information officer position has limited the agency's ability to modernize its technology.
Independent Banker
JANUARY 26, 2016
The FDIC has released a proposal to indemnify the banks with assets less than $10 billion from the costs of raising the Deposit Insurance Fund reserve ratio from 1.15 The FDIC could vote on the proposal as early as next month.
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 20, 2019
Regulatory reform Regulatory guidance Financial regulations Capital Liquidity Federal Reserve FDICThe two agencies have delayed the deadline for the public to respond to a request for information on the rating system used to score banks' overall health.
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
American Banker
DECEMBER 12, 2019
Deposits Deposit insurance Regulatory relief Regulatory reform Jelena McWilliams FDICThe proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds.
American Banker
FEBRUARY 11, 2020
FDIC Equifax Fintech Hacking Blockchain Deutsche Bank Deposit insurance M&AFour Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter.
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