PYMNTS
JULY 22, 2020
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.
Abrigo
FEBRUARY 25, 2025
The most recent FDIC Small Business Lending Survey found that slightly more than half of large banks (those with at least $10 billion in assets) can approve a small and simple loan in one business day or less, compared with only 29% of small banks (those with less than $10 billion). The results?
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CFPB Monitor
JANUARY 25, 2021
Unless Rakuten’s most recent application is granted before that date, Rakuten’s FDIC insurance application, if approved by the FDIC, would subject Rakuten to the terms of the Rule. Rakuten’s first FDIC deposit insurance application was filed in July 2019, and was withdrawn in March 2020.
Jack Henry
DECEMBER 9, 2021
Investments in financial technology have been increasing for years, but the events of the last 18 months have created a new sense of urgency for community banks and credit unions to fine-tune their digital strategies across the spectrum of various fintech investments.
Perficient
JULY 12, 2023
Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The complete 60+ page guidance is available to readers here.
South State Correspondent
NOVEMBER 14, 2024
Uninsured depositors, those with balances over the $250,000 FDIC threshold limit, are more likely to utilize instant payments and more likely to drain balances. Reducing payment costs and delays to allow for better financial control is proving to drive adoption and capture engagement.
CFPB Monitor
DECEMBER 22, 2020
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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