PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). was formed in 2009 as a payment services provider to enable businesses to accept card payments. Square, Inc.
PYMNTS
OCTOBER 19, 2020
The number of Americans without bank accounts is expected to spike again in the wake of the coronavirus pandemic after hitting a low last year, according to a new report by the Federal Deposit Insurance Corp (FDIC). percent in 2019, the lowest since the FDIC began tracking this stat in 2009. The unbanked rate jumped to 8.6
PYMNTS
SEPTEMBER 8, 2016
With increasingly few exceptions, the ranks of the unbanked seem to be on the decline, according to new data released by the FDIC. According to FDIC data, unbanked American consumers peaked toward the end of the Great Recession in 2011 at 8.2 The percentage of Americans going without banking services fell to 7 percent in 2015 from 7.7
PYMNTS
APRIL 11, 2016
In an internal FDIC document obtained by The Washington Post , it was revealed that the data of 44,000 FDIC customers was breached by an employee who left the agency in February. The memo was distributed on March 18 by FDIC Chief Information Officer and Chief Privacy Officer Lawrence Gross Jr. The Federal Deposit Insurance Corp.
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.
PYMNTS
OCTOBER 19, 2020
residents in the near future, PYMNTS writes, according to a report by the Federal Deposit Insurance Corp (FDIC). The Great Recession from a decade ago also saw an increase in unbanked Americans, which the FDIC report uses as a basis for what may happen going forward. percent in 2009. percent in 2011, from 7.6 percent.
PYMNTS
FEBRUARY 19, 2020
The research filtered data from the Federal Deposit Insurance Corporation (FDIC). Since 2009, bank branches have been steadily declining from a high of near 100,000. There was a 2.2 percent drop during the same time period a year earlier, the research showed. The industry was the biggest loser out of all the major U.S.
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