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.
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.