PYMNTS

JUNE 29, 2020

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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Perficient

OCTOBER 1, 2024

Just before Christmas in 2023, December 23, 2023, to be precise, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors gave a Christmas gift that was the equivalent of coal in their stocking. Banks will also be required to display the FDIC official digital sign on certain automated teller machines.

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FDIC User Experience Mobile Meeting 193

South State Correspondent

MAY 9, 2023

In the wake of regional bank failures, one potential answer to equity shorting and bank runs is having the FDIC increase deposit insurance. We believe any change to the FDIC insurance coverage should aim to maintain and advance our credit markets. There is no escaping this conclusion: FDIC insurance promotes risk-taking by managers.

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FDIC Regulation Capital Management 195

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. card startup Curve opened a New York City office in advance of its U.S. launch; and Wells Fargo’s […].

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Perficient

NOVEMBER 4, 2024

FDIC The Federal Deposit Insurance Corporation (FDIC), which is the primary federal regulator for insured state-chartered banks that are not members of the Federal Reserve, was the lead bank regulator when in June 2021 it issued a Request for Information seeking comments and information on the use of AI by financial institutions it regulated.

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FDIC Regulation Risk Management Compliance 170

PYMNTS

OCTOBER 19, 2020

The number of Americans without bank accounts is expected to spike again in the wake of the coronavirus pandemic after hitting a low last year, according to a new report by the Federal Deposit Insurance Corp (FDIC). percent in 2019, the lowest since the FDIC began tracking this stat in 2009. The unbanked rate jumped to 8.6

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FDIC US America Survey 187

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. Key Takeaways.

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FDIC Capital Regulation Lending 195

PYMNTS

JUNE 17, 2020

According to the Federal Deposit Insurance Corporation (FDIC), over half of all banks ended up reporting a decline in profits, and 7.3 In addition, the total number of problem banks the FDIC was watching rose for the first time since 2011, with 54 firms in the first quarter, up from 51. billion, Reuters wrote. billion, Reuters wrote.

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FDIC US Lending Report 203

Bank Innovation

JULY 9, 2018

It plans to reapply with the FDIC, but did not reveal […]. Payment processor Square has withdrawn its application to become a deposit-taking bank, a move similar to online lender Social Finance or SoFi, which withdrew its application last fall.

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FDIC Online Payments Operations 210

Abrigo

SEPTEMBER 13, 2021

Banking Trends from the FDIC's 2Q Report Net interest margin reached a new record low, but positive signs emerged in lending. Summary of the Latest FDIC Quarterly Profile. FDIC) released the latest Quarterly Banking Profile recently, and it has some helpful information on industry trends. Banking Data. Interestingly, 64.1%

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FDIC Lending Capital Trends 195

Payments Dive

OCTOBER 2, 2023

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

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FDIC Compliance System Management 259

CFPB Monitor

APRIL 11, 2023

Director Chopra, who is also a board member of the Federal Deposit Insurance Corporation, focused his messaging on the need to better educate consumers regarding when their deposits are and are not insured by the FDIC. Continue Reading

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FDIC Industry Washington 146

PYMNTS

JANUARY 7, 2021

Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now, with their funds housed in FDIC insured accounts with BBVA. And, the company says it wants to make the transition "as smooth as possible" for customers.

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FDIC Google User Experience Lending 336

Perficient

MAY 19, 2021

Federal Deposit Insurance Corporation (FDIC. Perficient highlighted in a blog more than a month ago that the five federal financial institution agencies – Board of Governors of the Federal Reserve System (The Fed). Consumer Financial Protection Bureau (CPFB). National Credit Union Administration (NCUA).

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FDIC National Regulation System 365

Payments Dive

JULY 20, 2023

The card company also disclosed during its latest earnings report that a pricing issue affected merchants and merchant acquirers, some of whom will get refunds.

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FDIC Cards Report Company 195

Perficient

SEPTEMBER 11, 2023

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Chronology of Compliance Engagement In the pre-personal computer age , FDIC examiners would simply show up at a bank, often by surprise, and start requesting documents from bank executives.

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Compliance FDIC Tools Leadership 221

Bank Innovation

JULY 29, 2019

On the heels of digital banking startup Varo Money applying for a banking license with the Federal Deposit Insurance Corporation (FDIC) earlier this month, another fintech firm with its toes in charter waters seems poised to jump in.

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FDIC Digital Banking Fintech Online 253

Perficient

OCTOBER 27, 2022

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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Capital Regulation FDIC Regional 275

Payments Dive

MAY 2, 2023

Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts— would merit higher deposit insurance coverage.

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FDIC Payments 221

Payments Dive

JUNE 8, 2023

The guidance is aimed at helping banks address the operational, compliance and strategic risks of third-party tie-ups, such as those with fintech firms.

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Risk Management FDIC Management Compliance 243

Bank Innovation

OCTOBER 4, 2019

The FDIC-insured savings account is offered through custodian MVB Bank. The 12-year-old personal finance company, which is now worth $4 billion, announced the savings account product this week, which will roll out to U.S. customers on Oct. The company, however, is partnering with a network of […].

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FDIC Company Customer Experience 268

Bank Innovation

OCTOBER 4, 2019

The FDIC-insured savings account is offered through custodian MVB Bank. The 12-year-old personal finance company, which is now worth $4 billion, announced the savings account product this week, which will roll out to U.S. customers on Oct. The company, however, is partnering with a network of […].

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FDIC Company Customer Experience 267

Payments Dive

JANUARY 4, 2023

The regulators didn't go so far as to create new rules around bank-crypto partnerships, but said they're "continuing to assess" if — and how — such tie-ups can proceed safely.

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FDIC Regulation 221

Payments Dive

SEPTEMBER 6, 2023

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

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FDIC Regulation Regional Cards 221

Bank Innovation

JANUARY 26, 2020

Grasshopper opened in May 2019 after securing FDIC and OCC approval, a rare distinction for a digital-only bank. New York City-based Grasshopper Bank is geared toward startups, with a focus on pain points for founders.

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New York City FDIC New York Innovation 243

Abrigo

JANUARY 24, 2024

Account for the details before your FDIC bank acquisition Consider these tips for assessing your institution and a to-be-acquired institution for a smooth integration You might also like this webinar, "Valuation and purchase accounting: Navigating the changing M&A landscape."

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FDIC Regulation Strategy Data 195

Bank Innovation

JANUARY 19, 2018

Varo, a mobile banking startup that provides an FDIC-insured bank […]. The funds will go towards marketing its service as well as for laying “the foundation” to become a bank, company CEO Colin Walsh told TechCrunch.

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National FDIC Mobile Marketing 225

Bank Innovation

FEBRUARY 12, 2020

As of January, there were 3,989 in-store branches of FDIC-insured institutions housed within retail stores, a decrease of 2.3% In-store branches are satellite bank branches located inside large retail spaces, such as supermarkets or chains like Walmart and Safeway. since June 30, 2019, and 6.5%

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FDIC US Retail Digital Banking 243

American Banker

DECEMBER 21, 2023

finalized rules governing display of the FDIC logo Wednesday, requiring a new digital FDIC sign on online banking platforms beginning in 2025, conspicuous physical signs in nontraditional bank facilities and explicit labeling of insured and non-deposit products. The Federal Deposit Insurance Corp.

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FDIC Online Compliance Regulation 85

Payments Dive

APRIL 8, 2022

The regulator said it supports safe and sound innovations, but is concerned that the risks associated with crypto assets and crypto-related activities are not well understood.

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FDIC Regulation Innovation 195

Bank Innovation

JULY 31, 2018

The fintech charter does not require deposit insurance from the FDIC, per a recommendation from the Treasury Department. It’s good news for fintechs in lending and payments that want a federal banking license, the Office of Comptroller of the Currency (OCC) has started accepting applications starting today.

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Fintech FDIC Lending Payments 218

Perficient

JANUARY 25, 2023

According to the Federal Deposit Insurance Corporation (FDIC), in 2000, there were 8,000 commercial banks in the United States, but as of March 2022, that number had dwindled to 4,194 operating physical bank branches.

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Banking Trends Trends United States FDIC 474

Perficient

AUGUST 16, 2023

A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Mr. Herndon named the Federal Deposit Insurance Corporation (“FDIC”) as receiver, allowing the FDIC to take control of the Heartland Tri-State’s operations.

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United States Kansas FDIC Risk Management 221

PYMNTS

FEBRUARY 18, 2020

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. Recently, Varo Money , a mobile bank, got FDIC approval to accept consumer deposits. This is the first time a FinTech has purchased an actual bank.

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Fintech FDIC Boston Lending 242

Bank Innovation

APRIL 25, 2019

Fintechs are having trouble facing reality when it comes to obtaining bank charters, FDIC Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting said here at the FDIC’s Fintech and the Future of Banking conference on Wednesday. WASHINGTON, D.C.

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Fintech FDIC Washington Conference 186

Perficient

OCTOBER 30, 2024

In April 2021 a Statement and separate Request for Information on Model Risk Management was issued by FinCEN and the FDIC, Federal Reserve, NCUA, and OCC.

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Regulation FDIC Compliance Innovation 221

Perficient

DECEMBER 1, 2023

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Commencing with the first quarterly assessment period of 2024 (i.e.,

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FDIC Risk Management Regulation Leadership 221