FDIC

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.

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."

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way.

Square became the third fintech firm in recent months to seek out a bank charter. Others are likely to follow.

Revenue from overdrafts keeps rising, according to new FDIC data, even though the controversial product still has a bull’s-eye on its back. Clearer disclosures and higher consumer confidence are the big reasons.

The company's application, which is expected to be announced as early as Thursday, comes after the online lender SoFi applied in June for an industrial loan charter. The bank is expected to be led by a former Green Dot executive.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have signed off on an abbreviation of the settlement cycle for securities to two days from three days.

The rule limiting the largest U.S. banks’ ability to enter into contracts with early termination clauses is intended to forestall a liquidity crunch if the bank is under stress.

Bank undercounted fake accounts and says it also opened more than 500,000 bill-pay accounts; CFPB director provides “no further insights” on his future.

The Federal Reserve’s plan to stop a bank bailout before it starts hasn’t been taken up more than five years since it was proposed.