News Topic: Deposit insurance

The $2 trillion stimulus package, which the Senate passed days earlier, aims to expand Federal Reserve liquidity resources and provide financial institutions with some regulatory relief. ... Read full article

An uptick in closings is likely, but how many institutions go under and how fast will depend on a variety of factors, including the duration of the pandemic. ... Read full article

While analysts agree banks are in better shape than in 2008, lawmakers are dusting off a crisis-era tool used by the Federal Deposit Insurance Corp. to soothe potential liquidity fears during the coronavirus pandemic. ... Read full article

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic. ... Read full article

Congressional proposals could expand Federal Reserve liquidity support, delay a new credit loss accounting standard, provide certain accounts with unlimited deposit insurance and more to help businesses and consumers reeling from the coronavirus outbreak. ... Read full article

The network offering an array of vendor services to member banks named former trade group chiefs Camden Fine and Ed Yingling to its board and has hired former American Banker Editor-in-Chief Rob Blackwell as chief content officer and head of external ... Read full article

The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships. ... Read full article

Five Republican senators want to cut off deposit insurance for banks that have stopped offering financial services to firms that operate detention facilities and private prisons on behalf of the federal government. ... Read full article

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation. ... Read full article

Four Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter. ... Read full article

The proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds. ... Read full article

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute. ... Read full article

The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank. ... Read full article

The two previously worked at BNY Mellon in similar roles, Scharf as CEO and Daley as head of public affairs; Michael Johnson’s demotion follows the bank’s massive data breach in July. ... Read full article

Recent closings could portend a stiffer regulatory stance on capital adequacy and risk. ... Read full article

The FDIC sold the operations of City National Bank of New Jersey, a minority depository institution, to Industrial Bank in Washington, D.C., in the year's fourth closure. ... Read full article

The credit they received in the third quarter is helping to soften the blow from falling net interest margins and weakening loan demand. ... Read full article

Louisa Community Bank and Resolute Bank were closed on Friday, raising the year's total to three failures. ... Read full article