FDIC extends comment period on brokered deposits proposal
Banks now have until Nov. 21 to provide feedback on the FDIC’s proposed rule on brokered deposits that could lead to higher costs for some insured depositories.
Grasshopper Bank to acquire AAA Club savings bank
The all-digital Grasshopper will vault from $835 million of assets to $1.4 billion and gain a potential audience of 13 million Auto Club Group customers in 14 states.
Wells Fargo names new head of government banking
Elena Gallo will replace Mara Holley, who is retiring.
Press Release: FDIC Announces Extension of Comment Period for Proposed Changes to its Brokered Deposit Regulations
PRESS RELEASE | OCTOBER 8, 2024 FDIC ANNOUNCES EXTENSION OF COMMENT PERIOD FOR PROPOSED CHANGES TO ITS BROKERED DEPOSIT REGULATIONS WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) is extending the comment period on its notice of proposed rulemaking (NPR) to strengthen the important prudential protections of the agency’s safety and soundness rule on brokered […]
In this election, the future of the CFPB could be on the line
The Consumer Financial Protection Bureau is in the business of promoting economic justice. A second Trump administration might permanently damage the agency’s ability to deliver for American consumers.
Canada’s interchange cuts add fuel to the move beyond card payments
Interchange reductions for small Canadian businesses join global efforts to curb swipe fees, prompting Visa and Mastercard to diversify
20 credit unions with largest portfolios of home equity loans
The top five credit unions have combined real estate loans and lines of credit of more than $217 million as of June 30.
Banks brace for next hurricane amid emotional Helene relief work
Financial institutions are on the front lines of relief efforts in Tennessee and North Carolina, while in Florida, Hurricane Milton threatens to deal a second blow.
Truist customers affected by February data breach of third party
A debt collection agency that provided services to Truist suffered a data breach in February affecting 4.2 million people. Truist now says some of those were its customers.
Massachusetts mutuals to merge, create $3.5 billion bank
River Run Bancorp near Boston said it would acquire Rollstone Bank and Trust, adding to a string of industry combinations as M&A activity gathers momentum in the second half of 2024.