By this time next year, America’s banking regulators will likely have new leadership. At a hearing Wednesday (Nov. 20) Rep. Patrick McHenry took the outgoing regulators to task. McHenry, the North Carolina Republican who serves as chair of the House Financial Services Committee accused officials...
Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg will step down from that post and from his seat on the board of directors the day before the inauguration of President-elect Donald Trump. Gruenberg told President Joe Biden Tuesday (Nov. 19) that he will retire from...
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment period now runs through Jan. 16, the FDIC said in a Monday (Nov. 18) press...
The percentage of households in the United States that are unbanked declined to a record low in 2023. At 4.2% of U.S. households, or 5.6 million, the percentage of households without a bank or credit union account was the lowest since the Federal Deposit Insurance Corp....
November 01, 2024
Among the central debates of regulation, what we might term even the jurisdiction of the regulators — no matter the industry — might boil down to a stark question: States versus federal — as in should the states be the mainstays in regulating banks and FinTechs as they continue to pair up and deliver digital […]
September 03, 2024
Technology and third-party relationships — with service providers and digitally-focused FinTechs — have helped transform banks’ operations. Banks have been able to pivot fully into the digital age, serving a...
August 12, 2024
New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that can, conceivably, amp up competition...
August 07, 2024
Uninsured deposits have been in the spotlight of the regulatory gaze through the past year and a half. The failure of Silicon Valley Bank and other bouts of financial instability...
November 20, 2024
By this time next year, America’s banking regulators will likely have new leadership. At a hearing Wednesday (Nov. 20) Rep. Patrick McHenry took the outgoing regulators to task. McHenry, the North Carolina Republican who serves as chair of the House Financial Services Committee accused officials at agencies like the Federal Deposit Insurance Corp. (FDIC) of […]
November 19, 2024
Federal Deposit Insurance Corp. (FDIC) Chairman Martin Gruenberg will step down from that post and from his seat on the board of directors the day before the inauguration of President-elect...
November 18, 2024
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment...
November 12, 2024
The percentage of households in the United States that are unbanked declined to a record low in 2023. At 4.2% of U.S. households, or 5.6 million, the percentage of households...
