A recent deposit insurance application by Rakuten—a major Japanese e-commerce company—for its U.S. bank subsidiary Rakuten Bank America could pose potential risks for the Deposit Insurance Fund if approved, the American Bankers Association cautioned in a letter to FDIC Chairman Jelena McWilliams today.
Browsing: De novo banks
The FDIC today announced several changes to its Deposit Insurance Application Procedures Manual.
With several serial acquirers out of the market, scarcer targets for purchase and non-traditional deals on the rise, expect banks to turn to experienced matchmakers in 2020 to navigate M&A.
The application by Rakuten—a major Japanese e-commerce company—for deposit insurance for its prospective U.S. bank subsidiary does not meet requirements imposed by the Federal Deposit Insurance Act, ABA and the Bank Policy Institute told the FDIC in a letter today.
Issues of capital and profitability are key themes in the FDIC’s interactions with fintech companies seeking banking charters, FDIC Chairman Jelena McWilliams said today.
With community banks serving as a critical source of credit for the nation’s small business sector, Florida Bankers Association President and CEO Alex Sanchez today highlighted the importance of maintaining a healthy, vibrant community banking sector in the U.S.
The American Bankers Association today offered several recommendations on how the FDIC can modify the deposit insurance application process for community banks.
In a deeply personal speech at a Florida Bankers Association event last night, FDIC Chairman Jelena McWilliams offered her perspectives on the U.S. financial system and how having an appropriately tailored regulatory framework enables banks to help their customers live the American dream.
If we aren’t able to find a way to backfill areas hit hard by bank consolidation, the nation’s impressive economic recovery and growth will leave those towns behind.