FDIC and Minnesota - Community Banking Brief

Minnesota bankers appeal dismissal of suit over FDIC's fee guidance

American Banker

JUNE 6, 2024

A Minnesota trade group and its co-plaintiff, Lake Central Bank, signaled that they plan to appeal a district court's dismissal of their lawsuit against the FDIC. The case involves the agency's guidance on nonsufficient funds fees.

Minnesota

Minnesota FDIC Groups Policies

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

CFPB Monitor

JULY 24, 2023

A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit Insurance Corporation (FDIC) and Chairman Martin J. Gruenberg for the FDIC’s issuance of supervisory guidance to banks under its supervision (i.e.,

Minnesota

Minnesota FDIC System

FDIC Moves to Dismiss Lawsuit Challenging NSF Fee Guidance

CFPB Monitor

SEPTEMBER 25, 2023

The FDIC has filed motion to dismiss the lawsuit filed in July 2023 in a Minnesota federal district against the FDIC and its Chairman seeking to invalidate the FDIC’s supervisory guidance on charging multiple non-sufficient funds (NSF) fees for the same unpaid item. See out prior blog here.

FDIC

FDIC Minnesota

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Plaintiffs file memorandum opposing FDIC’s motion to dismiss challenge to NSF fee guidance

CFPB Monitor

FEBRUARY 21, 2024

On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to the FDIC’s supervisory guidance on NSF fees. Continue Reading

FDIC

FDIC Minnesota

Minnesota Bankers Association challenges FDIC's NSF rule

American Banker

JULY 21, 2023

The Minnesota Bankers Association and Lake Central Bank jointly filed a lawsuit against the Federal Deposit Insurance Corp. over its nonsufficient funds fee rules' inclusion of "unfair or deceptive acts or practices" violations in its policy.

Minnesota

Minnesota FDIC Policies Compliance

FDIC fights suit by Minnesota bankers over NSF fee guidance

American Banker

SEPTEMBER 20, 2023

The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue. The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry.

FDIC

FDIC Minnesota Industry Compliance

Seven states and D.C. file lawsuit challenging FDIC “Madden fix” rule

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.

FDIC

FDIC District of Columbia North Carolina Illinois

Does your bank need cyber insurance?

Independent Banker

OCTOBER 1, 2022

In November 2021, the FDIC, OCC and the Board of Governors of the Federal Reserve System approved a new rule requiring banking organizations to notify regulators of “any significant computer-security incident” as soon as possible and no later than 36 hours after a determination that such an incident occurred.

Montana

Montana Policies Resources FDIC

Community Banking According to Andy

Jeff For Banks

AUGUST 2, 2021

One of my tweeps (Twitter friends), is Andy Schornack, CEO of Flagship Bank Minnesota, based in Wayzata. 2/ @Schornack The primary asset of the organization was Flagship Bank Minnesota, a Member FDIC and Equal Housing Lender with two locations in the Twin Cities Metro Area. I suggest following Andy on Twitter. million in loans.

Community Bank

Community Bank Community Minnesota Metro

Navigating Liquidity, Funding, and Return in the Paycheck Protection Program

Abrigo

APRIL 21, 2020

Steve Domine, President of Minnesota Community Banking and Senior Vice President of Lending at Stearns Bank, explained during a recent Independent Community Bankers of America (ICBA) webinar that his bank sought both inside and outside counsel to understand the SBA rulings.

Lending

Lending Capital Minnesota FDIC

Who were ICBA’s Top Lenders of 2022?

Independent Banker

JUNE 30, 2022

Using FDIC data for 2021, we calculated a lender score out of 100 for each community bank. First State Bank Minnesota. Citizens Bank Minnesota. American National Bank of Minnesota. Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending.

Community Bank

Community Bank Community National Philadelphia

The top-performing community banks of 2021

Independent Banker

APRIL 30, 2022

Ultima Bank Minnesota. BankVista has been the SBA Lender of the Year in Minnesota for six years running, which positioned the community bank perfectly to help clients during COVID-19. First Western Federal Savings Bank. Rapid City. Bank of Montana. First Bank of Ohio. Wyoming Bank & Trust. The First State Bank. First State Bank.

Community Bank

Community Bank Community Montana Taxes

Fintech Startup of the Week: Challenger Jiko Buys a $100M U.S. Bank

Fintech Labs Insights

SEPTEMBER 3, 2020

So congrats to the persistent team at Oakland-CA-based Jiko that stuck with it for 3 years and are now the proud owner of Minnesota based Mid-Central Federal Savings Bank , its $100M in assets and BankSITE -powered website. You’d think that Jiko was looking to leverage FDIC insurance to put its customers at ease.

Fintech

Fintech FDIC Oakland Minnesota

Stupid Bank Names

Jeff For Banks

FEBRUARY 1, 2015

First Integrity Bank - This Minnesota bank failed in 2008. Innovative Bank - Through the worst banking crisis since the Great Depression, only about 5% of FDIC-insured financial institutions failed. If your brand strives for assimilation, then go with it. Rabobank - Not a large leap to Rob A Bank.

Pennsylvania

Pennsylvania Baltimore Branding Indiana

Plaintiffs in lawsuit challenging OCC Madden-fix rule move for summary judgment

CFPB Monitor

DECEMBER 18, 2020

The AGs in the lawsuit against the OCC, joined by the AGs for the District of Columbia, Massachusetts, Minnesota, New Jersey, and North Carolina, filed a second lawsuit against the FDIC to enjoin its similar “ Madden -fix” rule as to state banks. White who was appointed to the federal bench in 2002 by President George W.

FDIC

FDIC District of Columbia North Carolina New Jersey

Community Banking Brief

Minnesota bankers appeal dismissal of suit over FDIC's fee guidance

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

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FDIC Moves to Dismiss Lawsuit Challenging NSF Fee Guidance

Webinars

Plaintiffs file memorandum opposing FDIC’s motion to dismiss challenge to NSF fee guidance

Minnesota Bankers Association challenges FDIC's NSF rule

FDIC fights suit by Minnesota bankers over NSF fee guidance

Seven states and D.C. file lawsuit challenging FDIC “Madden fix” rule

Does your bank need cyber insurance?

Community Banking According to Andy

Navigating Liquidity, Funding, and Return in the Paycheck Protection Program

Who were ICBA’s Top Lenders of 2022?

The top-performing community banks of 2021

Fintech Startup of the Week: Challenger Jiko Buys a $100M U.S. Bank

Stupid Bank Names

Plaintiffs in lawsuit challenging OCC Madden-fix rule move for summary judgment

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