Capital Brief: FDIC Insures Principal's New Thrift

The Federal Deposit Insurance Corp. last week granted deposit insurance to Principal Financial Group's newly chartered federal thrift.

The approval, which the FDIC board unanimously gave on Dec. 16, was the final regulatory hurdle that the insurance company had to clear before it may add banking products to its financial services offerings. The Office of Thrift Supervision granted Principal a thrift charter in mid-November.

-Dean Anason

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