The FDIC will enter the post-Gruenberg era. But when?
Getting appointees confirmed by the Senate can be a time-consuming and painstaking process in ideal circumstances, and doing it in an election year amid a scandal is far from ideal. Even so, the White House and Senate Democrats should be motivated to move fast.
Who could replace Martin Gruenberg at the FDIC?
Martin Gruenberg’s ouster from the Federal Deposit Insurance Corp. leaves the White House with the difficult task of finding a regulator willing to serve a roughly six month term atop of beleaguered agency.
California community banks to merge in $63M deal
West Coast Community Bancorp agreed to acquire 1st Capital Bancorp in an all-stock deal slated to close in the fourth quarter.
Are central banks about to become centers of crypto innovation?
The Bank for International Settlements’ Innovation Hub is doing important work on integrating new technology into the global financial system. The next step is to bring both banks and nonbanks into the discussion.
Marqeta, MoneyLion and Verituity: Adapting to the fintech downturn
These three payment firms are working to grow revenue by pivoting to new markets and technologies, all while waiting for a turnaround in the industry.
Why bankers should be more worried about stablecoin legislation
Banking experts said that none of the currently circulating stablecoin proposals adequately address concerns about the overlap between banking and commerce and how a stablecoin issuer would go through insolvency.
FHA greenlights higher fee for assumptions
The Federal Housing Administration also instituted a new language preference requirement that servicers must observe in transfers.
CFPB calls out “price gouging” in credit reporting
At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.
JPMorgan borrows from First Republic playbook to add affluent clients
One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan’s brand with First Republic’s concierge model.
Statement by FDIC Chairman Martin J. Gruenberg
PRESS RELEASE | MAY 20, 2024 Statement by FDIC Chairman Martin J. Gruenberg Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg today issued the following statement: It has been my honor to serve at the FDIC as Chairman, Vice Chairman, and Director since August of 2005. Throughout that time I have faithfully carried out […]