News Topic: FDIC

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers. ... Read full article

Student loan platform Social Finance has withdrawn its application for deposit insurance, a month after former CEO Mike Cagney retired in the wake of sexual harassment allegations. ... Read full article

Farmers and Merchants State Bank of Argonia, Kan., was the seventh institution to fail this year. ... Read full article

The Independent Community Bankers of America is formally opposing a bank charter application by payments processor Square, accusing it of trying to “avoid” certain “legal prohibitions and restrictions.” ... Read full article

The Federal Deposit Insurance Corp.'s No. 2 said deposit insurance helps prevent bank runs, but can also make banks more prone to taking on risk that can cost the public. ... Read full article

The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product. ... Read full article

With baby boomers moving into retirement and many young folks eschewing careers in banking, the industry could soon be facing a talent shortage. Are more banking degree programs the answer? ... Read full article

Washington Federal is the latest bank to pull an application after being flagged for insufficient Bank Secrecy Act compliance. ... Read full article

The agencies will give eight of the largest U.S. banks an extra year to file upcoming resolution plans, and suggested they may stretch out the filing schedule on a more ongoing basis. ... Read full article

Arthur Levitt says seemingly daily scandals highlight the lack of oversight and corporate governance shortcomings of financial technology firms, but two marketplace lending executives responded that more mature companies have just as many problems. ... Read full article

The proposal is aimed at a simpler capital regime particularly for community banks, but some industry representatives and regulators themselves questioned whether the plan went far enough. ... Read full article

How most banks obtain deposits has changed radically over the past 30 years, thanks in part to innovation. It is time for regulators to rethink their notion of what constitutes a quality deposit portfolio. ... Read full article

In a July order, the FDIC fined a former Oklahoma banker $125,000 and banned him from banking, prompting questions by Rep. Elijah Cummings, D-Md., over whether he is fit to serve as a top adviser at the EPA. ... Read full article

The Trump administration is prepping recommendations to address shortcomings in the capital markets in a report to be released next month, a top Treasury Department official said Monday. ... Read full article

David Dotherow, CEO of the newly formed Winter Park National Bank, stresses the need for strong management and a straightforward business plan when applying for a charter. ... Read full article

The House passed an appropriations bill that on the surface advanced key regulatory relief provisions sought by banks, but it could also open the door to higher examination fees, particularly for state-chartered banks. ... Read full article

The Independent Community Bankers of America had initially called for a moratorium in response to SoFi's application, and says now that Square's bid "has significantly increased our concerns." ... Read full article

David Dotherow, CEO of the newly formed Winter Park National Bank, stresses the need for strong management and a straightforward business plan when applying for a charter. ... Read full article