With just seven de novo banks started in the past five years — and with 1,500 fewer community banks over that period — ABA today urged Congress to address the regulatory impediments to bank startups.
Browsing: De novo banks
Beyond the economic implications of the de novo drought, the lack of bank startups will have profound effects on future banking industry leaders.
The FDIC anticipates “an increase in chartering activity as general economic conditions continue to improve,” the agency said in response to a letter from Sen. Dean Heller (R-Nev.) questioning the agency’s effort to create a favorable environment for new de novo bank institutions.
FDIC Chairman Martin Gruenberg announced today that the FDIC will reduce the period of heightened supervisory monitoring for newly chartered community banks to help address the drought in de novo charters that has occurred since 2011.
Several fintech companies—including one virtual currency firm—have made inquiries to the OCC about applying for national bank charters, American Banker reported this week, citing comments by OCC Chief Counsel Amy Friend at a recent fintech forum at George Washington University.
Frank Keating discusses top banking issues—from regulatory relief and cybersecurity to de novos and the future of the mutual charter—with Comptroller of the Currency Thomas Curry.
With final authorization from the New Hampshire Department of Banking yesterday, Primary Bank in Bedford, N.H., yesterday became the newest U.S. bank to open for business.
Excessive regulation is keeping people from starting new banks, A. Scott Anderson said in a Deseret News op-ed published today.
The dearth of bank startups in recent years may have something to do with declining business dynamism and weak job growth, Frank Keating wrote in an op-ed in The Hill on Friday.