In a letter sent ahead of a House Committee on Financial Services markup tomorrow, the American Bankers Association expressed support for H.R. 4590, the Promoting New and Diverse Depository Institutions Act, introduced by Rep. Jake Auchincloss (D-Mass.).
Browsing: De novo banks
The American Bankers Association today submitted a letter of support for H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo banking.
To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 2561, the Promoting Access to Capital in Underbanked Communities Act of 2021, which would establish a three-year phase-in period for new banks to comply with federal capital standards, among other provisions designed to promote de novo formation.
When the coronavirus pandemic began, Craft Bank was just about to begin its capital raise as a de novo community bank in Atlanta. With its roadshow about to begin, CEO Ross Mynatt and his small team threw out the playbook and began pivoting.
The American Bankers Association wrote to the FDIC today expressing strong opposition to another attempt by Rakuten, a major Japanese e-commerce company, to obtain federal deposit insurance.
The FDIC today finalized a rule requiring certain conditions and commitments for deposit insurance applications from an industrial loan company whose parent company is not subject to Federal Reserve supervision.
A conversation with Wendy Cai-Lee of de novo Piermont Bank on the unique needs of multigenerational family firms.
Wendy Cai-Lee leads one of the latest crop of U.S. de novo banks: Piermont Bank, opened to address “pain points” faced by middle-market businesses.
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.