Deposit insurance

Charges in Equifax hack; Varo Money passes FDIC test


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


FDIC brokered deposits plan aims to give banks flexibility


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


FDIC chief pitches brokered deposit rewrite, urges Congress to do more


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.


Robinhood to pull application for national bank charter


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.


Daley reunites with Scharf at Wells; Capital One demotes cybersecurity chief


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.


Three bank failures in one week: A blip or something worse?


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


Bank failure in New Jersey is nation's third in a week


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.


Deposit insurance credit came just in time for community banks


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


Regulators shutter banks in Kentucky and Ohio


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


FDIC to issue proposal on brokered deposits by yearend, McWilliams says


The chairman acknowledged the timetable is "ambitious."