CFPB Monitor
AUGUST 25, 2020
The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.
American Banker
FEBRUARY 5, 2020
Organizers of Triad Business Bank have raised enough capital and have received approval from the FDIC.
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PYMNTS
FEBRUARY 19, 2020
The research filtered data from the Federal Deposit Insurance Corporation (FDIC). Conversely, JPMorgan Chase is opening branches, adding 50 locations in North Carolina alone. There was a 2.2 percent drop during the same time period a year earlier, the research showed. The industry was the biggest loser out of all the major U.S.
Jeff For Banks
DECEMBER 10, 2023
Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. First Citizens Bank was founded in North Carolina in 1898 as the Bank of Smithfield.
CFPB Monitor
SEPTEMBER 10, 2020
Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.
CFPB Monitor
MARCH 15, 2022
Maryland, New York, North Carolina, Ohio, Pennsylvania, West Virginia, and Colorado. In 2019, California enacted AB 539 which, effective January 1, 2020, limited the interest rate that can be charged on loans of $2,500 to $10,000 by lenders licensed under the California Financing Law (CFL) to 36% plus the federal funds rate.
American Banker
MARCH 11, 2016
Ray Grace, North Carolina's banking commissioner, believes federal bank regulators should embrace charters for banks dedicated to innovation. Doing so, he said, would help the banking industry secure its spot as a "laboratory for change.".
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