Deposits

Big banks’ edge lies in their sizable presence in faster-growing cities, not any unfair structural or regulatory advantages, according to a new report by the Bank Policy Institute, which represents large financial services companies. Community banks beg to differ.

The FDIC should consider limiting its toughest restrictions on brokered deposits to problem banks.

For years Carter Bank in Virginia had resisted technology of all kinds — even ATMs. But a leadership change, rising rates and a thirst for low-cost deposits finally led to a change in philosophy.

A legal memo conducted on behalf of the trade group says the agency’s policy goes beyond statutory intent and places undue restrictions on healthy banks.

Aspiration, Wealthfront and SoFi have all begun offering high-yield savings accounts during the past few weeks.