News Topic: Deposit insurance

Regulators closed The Enloe State Bank in Texas late Friday, marking the first failure in 17 months and the first in the Lone Star State in over five years. ... Read full article

At a fintech event hosted by the FDIC, the agency’s chief and the head of the OCC offered their views on a wide range of matters. ... Read full article

Current rules developed in the early 1990s were driven more by politics than facts. ... Read full article

The board of the Federal Deposit Insurance Corp. on Friday made several proposals meant to simplify post-crisis rules, prompting opposition from its most recent former chairman. ... Read full article

The FDIC reserve fund is nearing a threshold that will trigger a temporary reprieve on deposit insurance premiums for banks with less than $10 billion of assets. ... Read full article

By applying to become an industrial loan company, the fintech would be able to use insured deposit accounts as a cheap source of funding without having to comply with the tough rules banks face. ... Read full article

Since the collapse of IndyMac in 2008, the agency has frequently helped to shield depositors over the $250,000 insurance limit from losses. But it’s a policy that was never formalized, and it remains to be seen whether the agency’s new head, Jelena ... Read full article

The agency began seeking comments in December through a "request for information" on how to improve the agency's process for considering new deposit insurance applications. ... Read full article

The promotion of “insured” accounts by nonbanks and fintechs is a worrying trend, because it could leave customers falsely believing their accounts are just as safe as FDIC-insured ones. ... Read full article

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks. ... Read full article

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say. ... Read full article

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck. ... Read full article

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader. ... Read full article

The idea that deposit brokers are trying to game the deposit insurance system and could contribute to another crisis is outdated. ... Read full article

The agency's request for comment about the deposit insurance application process is among a series of actions aimed at streamlining charter applications. ... Read full article

Banks earned $62 billion in the third quarter thanks to tax reform and higher asset yields while the Deposit Insurance Fund crossed a statutory threshold. ... Read full article

Jelena McWilliams knows the value of the FDIC’s role in a way most other Americans do not. Now she's in charge as it grapples with difficult questions and sets out to reshape the industry. ... Read full article

The proposal, required by the regulatory relief package that Congress passed in May, would exempt the healthiest banks from having to count reciprocal deposits as brokered deposits. ... Read full article