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.
Key regulatory changes and business trends will drive bank mergers and acquisitions in 2019, two top bank deal lawyers say on the latest episode of the ABA Banking Journal Podcast.
Look for 2019 bank mergers to be driven by large deals in metro markets, smaller banks on the buy side and de novo groups acquiring rural banks.
With the regulatory posture shifting, the next generation of de novo banks is finally beginning to emerge.
The FDIC formally launched its highly anticipated initiative to foster de novo bank formation.