News Topic: De novo institutions
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Regulators must stop stifling minority and rural mutual banks
New Englander aims to open country’s first mutual thrift since 1970s
From Florida to California, bank startups are surging
Chicago’s newest bank sets sights on women-owned businesses
A ‘natural’ transition: Florida wealth firm on verge of becoming bank
Former Radius chief brings fintech mentality to New York de novo
Grasshopper Bank in New York hires former Radius CEO as next leader
Florida de novo to open in June
Virginia group receives FDIC approval to open de novo
House bill aims to encourage more de novo banks
FDIC approves application for Climate First Bank
Billie Jean King invests in Chicago de novo effort
The tennis legend will also serve as a strategic adviser on gender equality issues and First Women's Bank, which will be mostly owned and run by women. ]] ... Read full article
Why U.K.'s Revolut wants a U.S. charter
The fintech, which has applied for a California banking license and federal deposit insurance, aims to become a full-service online bank for 1 million Americans by year-end, says Ron Oliveira, its U.S. chief executive. ]] ... Read full article
Chartering a new credit union shouldn't be this hard
Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground. ]] ... Read full article
RockPoint Bank cleared to open in Tennessee
The de novo, which raised $33 million in initial capital, will become the state's third new bank since the 2008 financial crisis. ]] ... Read full article
Florida banking veteran planning de novo
Keith Costello, who is looking to form Locality Bank, was president and CEO of First Green Bank when it was sold in 2018. ]] ... Read full article
FDIC approves Florida de novo that will focus on Latino customers
Organizers of the proposed Our Community Bank have received conditional approval that requires them to raise $18 million before opening. ... Read full article
Florida money transfer company files to form digital bank
Payservices would use deposits largely to support its existing business. It has no plans to make loans. ... Read full article
NCUA board members call for reforming de novo process
In remarks during CUNA’s online Governmental Affairs Conference, Vice Chairman Kyle Hauptman and board member Rodney Hood lambasted the lengthy process necessary for launching a new credit union. ... Read full article