Deposit insurance

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

The fintech's new products may violate several banking and securities regulations and could mislead the public about the differences between coverage on banking and investment accounts, industry officials say.

The fintech Robinhood did not contact the Securities Investor Protection Corp. to discuss protection for deposits, according to SIPC CEO Stephen Harbeck.

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.

The National Credit Union Administration board voted to decrease the normal operating level for the share insurance fund in addition to prioritizing alternative capital as part of its regulatory reform.

The idea that deposit brokers are trying to game the deposit insurance system and could contribute to another crisis is outdated.

The agency's request for comment about the deposit insurance application process is among a series of actions aimed at streamlining charter applications.

Banks earned $62 billion in the third quarter thanks to tax reform and higher asset yields, while the Deposit Insurance Fund crossed a statutory threshold.

The House Financial Services Committee has steadily passed regulatory reform legislation this year. But any measure faces a stiffer challenge in the upper chamber.

The proposal, required by the regulatory relief package that Congress passed in May, would exempt the healthiest banks from having to count reciprocal deposits as brokered deposits.

The House Financial Services Committee has steadily passed regulatory reform legislation this year. But any measure faces a stiffer challenge in the upper chamber.

A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.

The payment is likely to bring an end to the saga of the failed corporate credit unions, which began nearly a decade ago.

The first session will be July 18, with a second to follow on Aug. 15. Both will feature the agency's Office of Credit Union Resources and Expansion.

The legislation lets banks hold a certain amount of reciprocal deposits without having to classify them as brokered deposits.

The insurance giant said it would need to make a “significant additional investment” to gain scale and be competitive. It has hired an investment banker to help it unload deposits and loans.

AssetMark Trust plans to offer a product for the $1 billion in cash it holds for clients.

In an update on the Deposit Insurance Fund, FDIC staff said the fund's ratio of reserves to estimated deposits will likely reach the required 1.35% level by the second half of 2018.

The tax reform law passed late last year, which significantly cut the corporate tax rate, has been widely popular among banks, but a one-time hit to the value of their deferred tax assets was felt far and wide.