FDIC

The agencies warned banks to fix fee programs before they result in penalties.

Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.

The Federal Deposit Insurance Corp. told neobank Utoppia to cease using the FDIC name, in Spanish and English communications.

The unusual financing is meant to help First Citizens meet liquidity needs that arise in the next two years as it integrates SVB into its operations, the Raleigh, North Carolina, lender said in a regulatory filing.

The Raleigh, North Carolina, lender submitted an offer on Sunday to buy all of the failed SVB, and it may also participate in the auctions this week for the two parts of company, people familiar with the matter say.

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.

Following the collapse of Silicon Valley Bank and a wider banking-sector panic this month, the smaller banks told regulators that explicitly insuring all deposits would stem the flow of money to the largest banks.

Advocacy groups want the Federal Deposit Insurance Corp. to downgrade the Community Reinvestment Act rating of FinWise Bank, which partners with nonbanks to offer high-cost consumer loans. The FDIC downgraded the rating of a second Utah-based bank following a similar campaign by consumer organizations.

The Arkansas congressman, a leading Republican on the House Financial Services Committee, said while he doesn't believe blanket expanding deposit insurance is warranted, different premium structures for covering deposits would be "worthwhile."

The White House and regulators have sought to ease fears about the banking system, but business depositors as well as regional bank investors remain jittery. Speculation has accelerated about potential buyers of the failed Silicon Valley and Signature banks, the health of certain other regionals and how deposit costs will change.