Deposit insurance

A fintech’s novel bank charter application draws industry’s ire


Figure Technologies would only accept uninsured deposits, so it would not be subject to Fed or FDIC oversight. A major concern for banks is that the effort could open the door to incursions by bigger tech companies.


Akron Municipal seeks members' OK for merger, private deposit insurance


If the deal is approved, the $6.4 million-asset credit union would drop its federal share insurance upon joining Towpath Credit Union.


Promontory Interfinancial rebrands as IntraFi, looks to diversify


The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.


Credit unions to pay $1.5B to bolster NCUA’s deposit insurance fund


A historic influx of deposits has brought the National Credit Union Share Insurance Fund’s equity ratio close to the point where premiums would be required, but the regulator’s plan is intended to boost it.


How a tweak to the Federal Home Loan banks could save cities


Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.


NCUA’s Harper warns of possible premiums as Hood teases new department


Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.


FDIC holds line on bank fees despite sharp deposit growth


The agency’s insurance fund dipped below its statutory minimum last quarter thanks to the rapid rise in deposits, but officials say it should bounce back without a hike in premiums.


FDIC's brokered deposit proposal has a glaring problem


The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.


FDIC to discuss fund restoration plan next week


A pandemic-driven surge in bank deposits helped drive the agency's insurance reserves below their statutory minimum.


FDIC's quarterly report shows extent of pandemic's hit to bank profits


The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.