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FDIC issues proposed rule for approval of ILC deposit insurance applications

CFPB Monitor

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company (collectively, ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board (FRB).

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US Banks Expected To Lose 200K Jobs To Technology

PYMNTS

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. Wells Fargo’s team of analysts in financial services and technology examined technology’s impact throughout the banking industry in the U.S.

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Today In Digital-First Banking: Green Dot Debuts GO2bank; Stimulus Checks Pose Challenges For TurboTax, H&R Block

PYMNTS

“GO2bank is built to be the go-to destination for seamless, affordable, useful banking — combining the security, stability and experience of an FDIC-insured bank with the innovation and agility of a leading FinTech,” Green Dot Corp. CEO Dan Henry said in a press release. Stimulus Checks Pose Issues For H&R Block, TurboTax .

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Report: US Banks Will Cut Jobs As Robots, Tech Bring About Change

PYMNTS

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. Wells Fargo’s team of analysts in financial services and technology examined technology’s impact throughout the banking industry in the U.S.

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FDIC receiver ordered to turn over tax refund checks in win for SVB Financial

American Banker

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Expanding credit portfolios: 3 Growing pains

Abrigo

Community banks are expanding their loan portfolios to include more small business loans, according to the most recent Community Bank Performance report by the FDIC. Loans across categories increased, with commercial and industrial loans growing at the fastest rate, roughly 5.3 percent over the 3rd quarter of 2013.

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The State of Banking

Jeff For Banks

In 2013, there were 6,812 FDIC-insured financial institutions. As an industry, the trend is down. What about the financial performance and condition of our industry? So I will say to you that t he condition of the industry is strong. In fact, if you listen to some institutional investors, the industry is over-capitalized.

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