Deposit insurance

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.


Brokered deposits help banks help their communities


Peoples Bank in Arkansas once used brokered deposits to fund more loans to underserved borrowers. It could do so again if Congress loosens restrictions, says CEO Mary Fowler.


Senate Banking Committee to consider controversial Fed board pick


The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.


Big banks join fight against new ILCs


Small banks have long led the campaign against industrial loan companies, arguing they can be used to violate the separation of banking and commerce. But now the industry’s heavyweights are also taking a hard line in response to an FDIC proposal that would give tech companies a smoother path into the lending business.


Repealing brokered deposit law would be a costly mistake


Congress and the FDIC are considering easing limits on banks' holdings of such deposits, a move that could inadvertently lead to more expensive failures.


Edward Jones seeks FDIC coverage for industrial loan company


The investment firm is the latest nonbank to try to enter banking through a Utah-based ILC.


Rakuten refiles with FDIC for ILC charter


The Japanese e-commerce giant is taking another run at a U.S. banking charter after receiving feedback from the Federal Deposit Insurance Corp. about its initial application, which was withdrawn earlier this year.


FDIC tool to prevent bank runs goes unused vs. coronavirus


Congress authorized the Federal Deposit Insurance Corp. to intervene if the pandemic caused a liquidity scare, but nearly two months later deposits are through the roof and the agency has not acted on the expanded authority.


FDIC proposes removing PPP loans from premium formula


The agency said without further action banks' participation in coronavirus relief programs could inflate their deposit insurance assessments.