PYMNTS

NOVEMBER 9, 2020

percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example. This represents a noted reversal from trends of the past decade.

On-Demand 81

On-Demand FDIC Push-to-Card P2P 81

PYMNTS

AUGUST 22, 2016

According to the FDIC, banking branches are at their lowest level in a decade with only 93,283 left open. Physical banks reportedly hit their peak in 2009 and have declined 6 percent since then. Which is a bit of a problem, since there are objectively fewer banks now than there were even five years ago.

FDIC 41

FDIC Consumer Online and Mobile Banking ATM 41

PYMNTS

MARCH 18, 2019

recently fell to the lowest rate since the 2007-2009 financial crisis, but a new product launch from JPMorgan Chase & Co. According to the Federal Deposit Insurance Corporation (FDIC), the percentage of unbanked Americans fell to its lowest level since the 2007-2009 financial crisis. households remain unbanked. In 2017, 6.5

Consumer 70

Consumer Online and Mobile Banking FDIC Checks 70

PYMNTS

OCTOBER 13, 2016

The year was 2009, and it was rough for some, but a fertile ground for others. “I Petralia remembers back to 2009 when the team was looking for a bank partnership. That was a challenge that it was definitely unexpected where we had to come up with an alternative and now we’re happy to be working with an FDIC regulated bank.”.

Small Business 65

Small Business FDIC Regulations Payroll 65

PYMNTS

OCTOBER 1, 2019

When the economy crashed in 2008, and fully bottomed out in June 2009 credit across the board froze. What is as true today as it was in the year 2009, she said, is small businesses aren’t starting, lasting, expanding and thriving — because of inadequate access to capital.

Consumer Financial Protection Bureau (CFPB) 54

Consumer Financial Protection Bureau (CFPB) CFPB Small Business Underwriting 54

Fintech Labs Insights

SEPTEMBER 3, 2020

And going back a bit further, I’d put Suresh Ramamurthi and Suchitra Padmanabhan’s 2009 acquisition of $3.5M You’d think that Jiko was looking to leverage FDIC insurance to put its customers at ease. Technically not insured, but if T-bills go down, FDIC insurance will probably be insolvent as well.

FinTech 15

FinTech FDIC OCC PayPal 15

Fintech Labs Insights

NOVEMBER 10, 2023

Venture investors saw consumer banking as ripe for disruption in the aftermath of the 2007-2009 financial crisis. 532 $21 31 Greenwood 83 2020 Atlanta 176,000 $88 32 Happy Money 78 2009 LA 192,000 $192 33 Yotta 71 2019 NYC 152,000 4.7 197,000 $1,700 2 Robinhood 6080 2013 SF 17,190,000 $6,200 3 SoFi 4017 2011 SF 13,080,000 4.6

NOV 15

NOV Consumer Online and Mobile Banking Small Business 15

PYMNTS

OCTOBER 1, 2018

The DOJ investigation centered on whether LendingClub had – between January 2009 to September 2010 – misled its FDIC-insured loan originator, WebBank , leading the bank to underwrite over 200 loans that did not conform to the bank’s lending requirements. The DOJ Finding. In 2010, LendingClub added to its war chest with a $24.5

P2P 54

P2P Origination Underwriting Returns 54

PYMNTS

NOVEMBER 18, 2019

recorded its fourth bank failure this year — the first collapse of financial institutions since 2017, according to data from the Federal Deposit Insurance Corp ( FDIC ). Assets and deposits were assumed by Industrial Bank, a press release from the FDIC indicated. “On Approximately $500,000 in deposits exceeded FDIC insurance limits.

FDIC 56

FDIC Community Banks Non-Bank NOV 56

PYMNTS

MARCH 22, 2019

The news comes as a survey showed that the percentage of unbanked Americans fell to the lowest point as of the financial crisis of 2007-2009. Federal Deposit Insurance Corporation (FDIC) data shows that 6.5 percent of 129.3 million U.S.

Financial Inclusion 46

Financial Inclusion FDIC ATM Checks 46