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FDIC RESPA Section 8 Settlement Acknowledges Legitimacy of Marketing Arrangements

CFPB Monitor

This is significant, as a federal banking regulator is confirming that both co-marketing and desk rental arrangements are permissible if the fees paid bear a reasonable relationship to the fair market value of marketing or rental costs.

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FDIC Seeks Public Comment On Banks And Small-Dollar Loans

PYMNTS

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 million (or nearly 13 percent) of U.S.

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FDIC issues final rule on brokered deposits and interest rate limits applicable to less than well capitalized institutions

CFPB Monitor

The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs).

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FinTech LendingClub Buys Radius Bank For $185M

PYMNTS

LendingClub provides personal lending online, and it wants access to funding that is more stable and not as expensive. The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide. Radius is based in Boston and has in the neighborhood of $1.4

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FDIC Published Notice of Proposed Rulemaking on Interest Rate Restrictions

CFPB Monitor

On Tuesday, the FDIC released a Notice of Proposed Rulemaking (NPR) that outlines anticipated revisions to its regulations regarding interest rate restrictions that apply to less than well capitalized insured depository institutions. The FDIC would compute the national rate and publish rate cap information on a monthly basis.

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Top 10 Crypto scams to look for in 2023

Abrigo

Crypto market a perfect environment for fraud. banking regulators recently warned financial institutions that dealing with cryptocurrency exposes them to an array of risks. Scammers advertise the investment at a price under market value, and the victim is unaware that the exchange is fake until their investment is lost.

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Fed Chairman Concerned Over Shrinking Bank Market

PYMNTS

Reports said Powell noted that looser community bank regulations may help keep branches open. Earlier this month, separate reports revealed that MOXY Bank has been approved by the Federal Deposit Insurance Corporation (FDIC) to launch in Washington, D.C., Bank mergers aren’t the only factor behind closing bank branches, however.

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