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FDIC pushes regulators to address tokenization

Payments Dive

FDIC Vice Chairman Travis Hill doesn't want the U.S. Tokenization could be a "major leap" for the monetary system. to be left out.

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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. The regulators are considering three options: raising the limit above $250k, raising the cap for only certain accounts (such as banks’ business accounts), or eliminating the cap entirely.

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ABA issues white paper on agency guidance and sends letters to regulators commenting on recently-issued guidance

CFPB Monitor

The American Bankers Association (ABA) has issued a new white paper , “Effective Agency Guidance: Examining Bank Regulators’ Guidance Practices,” that is intended to help agencies issue guidance that complies with legal requirements while providing useful advice and information to regulated entities.

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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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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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Discover expands board with former regulator

Payments Dive

The card issuer added a former FDIC regional director to its board as it grapples with regulatory scrutiny.

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Federal Banking Regulators Seek Comments for Additional Capital for Large Banks

Perficient

Seeking additional arrows in their quiver against large bank failures, on October 14, 2022, the Federal Reserve Board (FRB) and Federal Deposit Insurance Corporation (FDIC) published an Advance Notice of Proposed Rulemaking (ANPR). Both the FRB and FDIC will accept comments and answers for 60 days after publication in the Federal Register.

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