PYMNTS

MARCH 18, 2020

The Federal Deposit Insurance Corporation ( FDIC ) is setting new regulations for FinTechs and industrial banks that will enhance transparency and establish record-keeping requirements, the agency said on Tuesday (March 17). In 1987, parent banks were allowed to bypass FDIC oversight and regulations. .

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FDIC Regs FinTech Rules 57

Finextra

SEPTEMBER 6, 2024

The US Federal Deposit Insurance Corporation (FDIC) is looking at plans to protect customers from fintech failures, reports Bloomberg Law.

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FDIC Rules Laws FinTech 64

Payments Dive

OCTOBER 2, 2023

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

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Agreements FDIC Consumer Protection Laws 102

PYMNTS

MARCH 15, 2020

Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through. Because of that, retail businesses can have them.

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FDIC Rules Consumer Protection Addressing 56

Payments Dive

JULY 20, 2023

The card company also disclosed during its latest earnings report that a pricing issue affected merchants and merchant acquirers, some of whom will get refunds.

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FDIC Acquirers 78

PYMNTS

NOVEMBER 14, 2018

The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. ” Recent research from the FDIC shows 20 percent of U.S. With that in mind, the FDIC suggests that in 2017, 14.8 million (or nearly 13 percent) of U.S.

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FDIC Federal Reserve Request for Information On-Demand 51

The Paypers

JANUARY 15, 2025

The FDIC has set a 10 February deadline for BlackRock to resolve regulatory concerns about its investments in FDIC-regulated banks.

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FDIC Regulations 36

PYMNTS

JANUARY 7, 2021

Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now, with their funds housed in FDIC insured accounts with BBVA. And, the company says it wants to make the transition "as smooth as possible" for customers.

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FDIC Credential Accounts Continuity 134

Payments Dive

MAY 2, 2023

Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts— would merit higher deposit insurance coverage.

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FDIC Accounts Payroll Business Payments 87

Payments Dive

JUNE 8, 2023

The guidance is aimed at helping banks address the operational, compliance and strategic risks of third-party tie-ups, such as those with fintech firms.

Risk Management 95

Risk Management FDIC OCC Risk 95

Payments Dive

JANUARY 4, 2023

The regulators didn't go so far as to create new rules around bank-crypto partnerships, but said they're "continuing to assess" if — and how — such tie-ups can proceed safely.

FDIC 87

FDIC OCC Fed Risk 87

Payments Source

OCTOBER 9, 2018

Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation.

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FDIC FinTech Innovation OCC 98

Payments Source

FEBRUARY 8, 2019

With the backing of these establishments and Federal Deposit Insurance Corporation (FDIC) protections, the cloud of uncertainty surrounding cryptocurrencies will begin to lift, writes Eric Solis, founder and CEO of MovoCash.

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Cryptocurrency FDIC Bitcoin Payments 104

Payments Source

JUNE 8, 2020

Recent steps that would help nonbank lenders enter the traditional banking system, like a proposal clarifying the industrial loan company charter, are needed but face strong opposition.

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FDIC FinTech Laws Regulations 80

Payments Source

JULY 17, 2016

FDIC) narrowly avoided disaster when sensitive information for 44,000 agency customers was stored without proper security measures…on a personal storage device. Earlier this year, the Federal Deposit Insurance Corp.

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FDIC Breach Security Acquirers 100

Payments Source

MARCH 17, 2020

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

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FDIC Rules Community Banks FinTech 82

Payments Source

FEBRUARY 19, 2021

It is looking to charter its own FDIC-insured institution to be a direct provider. Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses.

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FDIC Cash Management Credit Cards FinTech 87

Payments Source

MARCH 18, 2020

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

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FDIC Payments Regulations FinTech 85

Payments Source

AUGUST 31, 2017

The 3-year-old order was related to Discover Bank’s programs for combating money laundering. A related agreement with the Federal Reserve Bank of Chicago remains in effect.

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FDIC Federal Reserve Money Laundering Agreements 60

Payments Dive

APRIL 8, 2022

The regulator said it supports safe and sound innovations, but is concerned that the risks associated with crypto assets and crypto-related activities are not well understood.

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FDIC Regulations Risk Innovation 78

Payments Source

MARCH 18, 2020

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

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FDIC Payments Regulations FinTech 83

Payments Source

MAY 26, 2016

Smartphones are an important window into understanding underbanked customers, the Federal Deposit Insurance Corp. said in a report released Wednesday in conjunction with a meeting of the agency's advisory committee on economic inclusion.

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FDIC Technology 64

Payments Dive

SEPTEMBER 6, 2023

The card issuer added a former FDIC regional director to its board as it grapples with regulatory scrutiny.

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FDIC Card Issuer Regulations Issuers 87

Payments Source

FEBRUARY 27, 2018

A decision by the Federal Deposit Insurance Corp. soon to be under new management — on Square’s ILC application could foreshadow how other fintech firms seek banking powers.

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FDIC FinTech OCC Regulations 62

Payments Source

MARCH 7, 2018

The major prepaid card issuer agreed to the penalty to settle allegations that it had charged higher fees than what was disclosed to customers.

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FDIC Card Issuer Issuers 63

PYMNTS

FEBRUARY 18, 2020

The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide. Recently, Varo Money , a mobile bank, got FDIC approval to accept consumer deposits. This is the first time a FinTech has purchased an actual bank.

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FinTech FDIC Online and Mobile Banking Returns 97

Payments Source

JULY 5, 2018

The payments processor has pulled its submission to the FDIC to become a depository bank but says it plans to make a second attempt soon.

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FDIC Processors Payments Regulations 71

PYMNTS

JANUARY 7, 2021

FDIC) and the Treasury Department are looking to see if American Express Co. Representatives of the Fed, FDIC and Treasury inspectors general offices would not comment on the matter, the paper reported. Officials at the Federal Reserve, the Federal Deposit Insurance Corp. 7), citing unnamed sources. “We

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Fed Office of the Comptroller of the Currency OCC FDIC 97

Finextra

SEPTEMBER 18, 2024

In the wake of the collapse of fintech Synapse, a US regulator has outlined plans to strengthen recordkeeping requirements for bank deposits received from third party companies on behalf of their customers.

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FDIC Rules Regulations FinTech 59

Payments Source

MAY 20, 2016

As the Federal Deposit Insurance Corp. grapples with a series of newly revealed cybersecurity incidents, the U.S. government is prosecuting a former agency employee over a 2012 breach.

Cybersecurity 64

Cybersecurity Breach FDIC Government 64

Bank Automation

MARCH 12, 2024

The digital, FDIC-insured bank looked to affiliate marketing platform Fintel Connect nearly two years ago to expand its reach, Fintel Connect Chief Executive Nicky Senyard tells Bank Automation News on this episode of “The Buzz” podcast. Fintel Connect helps Live Oak Bank increase its deposit volume.

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Volume FDIC Accounts Automation 72

Payments Source

FEBRUARY 12, 2019

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.

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FDIC Small Business FinTech Digital Payments 67

Finovate

JANUARY 22, 2025

The free, FDIC-insured account offers 2.5% Ramp customers can use Ramp Treasury to store their cash in a free, FDIC-insured accountthat earns 2.5% The liquid FDIC-insured account does not charge fees, require a minimum deposit, or have transfer limits. Ramp debuts Ramp Treasury to help businesses earn interest on idle funds.

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Treasury FDIC Reconciliation CHIPS 59

PYMNTS

OCTOBER 1, 2019

Federal Deposit Insurance Corporation (FDIC) data, however, shows that the industry’s overall headcount has shrunk only 16 times as of 1935. bank failed during the year, and the third time since the FDIC was founded in 1933 that a whole year went by without a bank going under. . In separate news, U.S.

Technology 86

Technology FDIC Risk Regulations 86

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.

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FDIC Community Banks Non-Bank NOV 56

The Paypers

JANUARY 4, 2023

The Federal Reserve, FDIC and OCC have released a joint statement in order to warn banks about the risks associated with crypto assets.

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Risk Federal Reserve OCC FDIC 69

Bank Automation

NOVEMBER 17, 2023

billion, Idaho-based bank saves roughly $1 million annually, has reduced its FDIC audit time by 50% from four weeks to […] Evans Bank has been working with and expanding the use of software company Laserfiche capabilities for 25 years, resulting in paper, monetary and time savings throughout the bank. Through the tech provider, the $3.2

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FDIC Automation Audit 72